Question
Hi i need help please its government Accounting class Part C Use Excel to prepare in good form a statement of revenues, expenditures, and changes
Hi i need help please its government Accounting class
Part C
Use Excel to prepare in good form a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2017. (See Illustration 4-4 in the textbook for an example format.)
City of Smithville | |||||
General Fund | |||||
Operating statement account balances | |||||
For year 2017 | |||||
Estimated Revenues Dr(Cr) | Revenues Dr(Cr) | Balance Dr(Cr) | |||
Acct 3020/4020 | Estimated Revenues-Taxes-Real Property | $1,679,070 | $0 | $1,679,070 | |
Acct 3040/4040 | Estimated Revenues-Interest and Penalties on Taxes | 9,000 | 1,686,570 | (1,677,570) | |
Acct 3050/4050 | Estimated Revenues-Licenses and Permits | 600,000 | 601,314 | (1,314) | |
Acct 3060/4060 | Estimated Revenues-Fines and Forfeits | 410,000 | 410,660 | (660) | |
Acct 3070/4070 | Estimated Revenues-Intergovernmental Revenue | 275,000 | 275,000 | 0 | |
Acct 3080/4080 | Estimated Revenues-Charges for Services | 231,000 | 231,820 | (820) | |
Encumberances Dr(Cr) | Expenditures Dr(Cr) | Appropriations Cr(Dr) | Available Balance Cr(Dr) | ||
Acct 5020 / 6020 / 7020 | Appropriations-General Government | $98,453 | $2,732,996 | $617,200 | ($2,214,249) |
Acct 5030 / 6030 / 7030 | Appropriations-Public Safety | 183,259 | 175,406 | 1,425,600 | 1,066,935 |
Acct 5040 / 6040 / 7040 | Appropriations-Public Works | 217,675 | 194,408 | 806,600 | 394,517 |
Acct 5060 / 6060 / 7060 | Appropriations-Culture and Recreation | 108,927 | 108,187 | 397,800 | 180,686 |
Part D
Use the Excel worksheet of the General Fund pre-closing subsidiary ledger account balances created in part C above to prepare in good form a schedule of revenues, expenditures, and changes in fund balancebudget and actual for the General Fund for the year ended December 31, 2017. (See Illustration 4-5 in the textbook for an example format.)
Part E
Prepare a reconciliation of total expenditures reported in your solution to part c of this problem with the total expenditures and encumbrances reported in your solution to part d of this problem. (In Chapter 4below Illustration 4-5, see discussion and example which compares Illustrations 4-4 and 4-5.)
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