Looking for help on City of Smithville 17th Edition. Ch4 Closing Entries. Textbook is Accountning for Governmental and NonProfit Entities 17th edition.

Closing Entry.Following the instructions in the next paragraph, prepare and post the necessary entries to close the Estimated Revenues, Appropriations, and Estimated Other Financing Uses accounts to Budgetary Fund Balance, and Revenues,Expenditures, and Other Financing Usesto Fund BalanceUnassigned. Because the City of Smithville honors all outstanding encumbrances at year-end, it is not necessary to close Encumbrances to Encumbrances Outstanding at year-end since encumbrances do not affect the General Fund balance sheet or statement of revenues, expenditures, and changes in fund balances. If, however, you would like to avoid having these accounts appear in the post-closing trial balance, you can opt to close Encumbrances to Encumbrances Outstanding. If the accounts are closed, they would need to be reestablished at the beginning of the next year.

To close the temporary accounts, you must click on the check mark for [Closing Entry], Closing Entry will appear in the [Transaction Description] box. Be sure the check mark in the box for [Closing Entry] is showing before closing each individual account. Also, you will be sent to the Detail Journal where you must close each individual budgetary or operating statement account. To determine the closing amounts for both General Ledger and subsidiary ledger accounts, you will need to first save and print the pre-closing version of these ledgers for year 2017 from the [Reports] menu.

At year-end, an analysis by the citys finance department determined the following constraints on resources in the General Fund. Prepare the appropriate journal entry in the General Fund to reclassify amounts between Fund BalanceUnassigned and the fund balance accounts corresponding to the constraints shown below. (Note: You should consider the beginning of year balances in fund balance accounts in calculating the amounts to be reclassified. Be sure the check mark in the box for [Closing Entry] is showing before closing each individual account.)

Account Ending Balance

Fund BalanceRestrictedPublic Safety $36,000

Fund BalanceCommittedHealth and Welfare 43,000

Fund BalanceCommittedPublic Works 12,700

Fund BalanceAssignedCulture and Recreation 0

Note: DO NOT PREPARE CLOSING ENTRIES FOR GOVERNMENTAL ACTIVITIES AT THIS TIME since governmental activities will not be closed until Chapter 9, after the capital projects fund (Chapter 5) and debt service fund (Chapter 6) transactions affecting governmental activities at the government-wide level have been recorded.

Here is pre-closing trial balance

Pre-Closing Trial Balance as of 2017 City Of Smithville 1 General Fund Debit Credit Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due From State Govemment Inventory of Supplies Vouchers Payable Due to Other Funds Due to Federal Government Due to State Government Fund Balance-Nonspendable Inventory of Supplies Fund Balance-Restricted-Public Safety Fund Balance-Committed-Public Works Fund Balance-Assigned-Culture and Recreation Fund Balance-Unassigned Budgetary Fund Balance Encumbrances Outstanding Estimated Revenues Revenues Appropriations Estimated Other Financing Uses-Interfund Transfers Out Expenditures Other Financing Uses-Interfund Transfers Out Encumbrances Totals for all accounts 553,615 209,071 105,430 10,876 5,654 115,000 67,420 63,396 2,800 150,171 41,860 67,420 15,000 29,700 56,800 352,925 7,520 18,547 5,275,370 5,282,873 5,247,850 20,000 5,208,047 10,000 18,547 11,467,946 11,467,946 Pre-Closing Trial Balance Page 1 of 1 Pre-Closing Trial Balance as of 2017 City Of Smithville 1 General Fund Debit Credit Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due From State Govemment Inventory of Supplies Vouchers Payable Due to Other Funds Due to Federal Government Due to State Government Fund Balance-Nonspendable Inventory of Supplies Fund Balance-Restricted-Public Safety Fund Balance-Committed-Public Works Fund Balance-Assigned-Culture and Recreation Fund Balance-Unassigned Budgetary Fund Balance Encumbrances Outstanding Estimated Revenues Revenues Appropriations Estimated Other Financing Uses-Interfund Transfers Out Expenditures Other Financing Uses-Interfund Transfers Out Encumbrances Totals for all accounts 553,615 209,071 105,430 10,876 5,654 115,000 67,420 63,396 2,800 150,171 41,860 67,420 15,000 29,700 56,800 352,925 7,520 18,547 5,275,370 5,282,873 5,247,850 20,000 5,208,047 10,000 18,547 11,467,946 11,467,946 Pre-Closing Trial Balance Page 1 of 1