Listed below (in alphabetical order) are the general ledger and budgetary accounts for the City of

Walland. All balances are year end, unless otherwise noted. All accounts have a normal balance. At

the end of the year, the City Council passed an ordinance that all outstanding orders would be honored

in the following fiscal year. Also, the Finance Officer set aside $40 for equipment replacement.

Requirements

1.)Prepare the Statement of Revenues, Expenditures, and Changes in Fund Balance for the year

ended June 30, 20X4.

2.)Prepare the Balance Sheet for the year ended June 30, 20X4.

3.) Prepare the necessary the closing entries.

City of Walland

Preclosing Trial Balance

For the Year Ended June 30, 20X4

Advance to Enterprise Fund.................................................................................1,000

Allowance for Uncollectible Taxes........................................................................300

Appropriations....................................................................................................8,850

Budgetary Fund Balance...................................................................................150

Cash...............................................................................................................$5,000

Due from Special Revenue Fund...................................................................100

Encumbrances Outstanding..........................................................................60

Encumbrances..............................................................................................60

Estimated Revenues....................................................................................9,000

Expenditures - Capital Outlay.......................................................................2,500

Expenditures - Operating......................................................................6,340

Fund Balance (July 1, 20X3)...............................................................9,505

Investments.........................................................................................2,500

OFS - Proceeds from Sale of Vehicle ................................................50

OFS - Transfer from Capital Projects Fund .......................................60

OFU - Transfer to Debt Service Fund...............................................100

OFU - Transfer to Enterprise Fund...................................................200

Revenues - Other ............................................................................1,250

Revenues - Property Taxes.............................................................7,500

Salaries Payable................................................................................50

Special Item - Proceeds from Sale of Land.......................................350

Supplies................................................................................1..........75

Taxes Receivable.................................................................................1,500

Vouchers Payable................................................................................35