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I need to create a post closing balance sheet for the following general fund.... General Fund Debit Credit Cash 19,900 Taxes Receivable 202,000 Allowance for
I need to create a post closing balance sheet for the following general fund....
| General Fund | Debit | Credit | |
| Cash | 19,900 | ||
| Taxes Receivable | 202,000 | ||
| Allowance for Uncollectible Taxes | 2,000 | ||
| Vouchers Payable | 24,000 | ||
| Due to Debt Service Fund | 10,000 | ||
| Unavailable Revenues | 16,000 | ||
| Encumbrances Outstanding | 9,000 | ||
| Fund Balance - Unassigned | 103,000 | ||
| Revenues | 176,000 | ||
| Expenditures | 110,000 | ||
| Encumbrances | 9,000 | ||
| Estimated Revenues | 190,000 | ||
| Appropriations | 171,000 | ||
| Budgetary Fund Balance | 19,000 | ||
| Totals | $ 530,000 | $530,000 |
I am confused on how to "remove the budgetary accounts" and then "remove any encumbrances."
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The Essential Handbook Of Internal Auditing
Authors: K. H. Spencer Pickett
1st Edition
0470013168, 978-0470013168
