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please answer B, C, and D. Part B below Part C Below Part D Below Record in general journal form entries to close the budgetary
please answer B, C, and D.
Part B below
Part C Below
Part D Below
Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. (If no entry required for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. The city council authorized temporary borrowing of $580,000 in the form of a 120-day tax anticipation note obtained from a local bank. 3. The property tax levy for FY 2023 was recorded. Net assessed valuation of taxable property for the year was $45,900,000, and the tax rate was $5 per $100. It was estimated that 2 percent of the levy would be uncollectible. 4. Purchase orders and contracts were issued to vendors and others in the amount of $2,140,000. a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2023. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. c. Prepare a General Fund balance sheet as of June 30, 2023. d. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2023. \begin{tabular}{|l|l|l|l|} \hline Required A & Required B & Required C & Required D \\ \hline \end{tabular} Prepare a General Fund balance sheet as of June 30, 2023. 5. $2,090,000 of current taxes, $391,270 of delinquent taxes, $21,370 of interest and penalties, and $19,000 of accrued sales taxes were collected. The delinquent taxes and associated interest and penalties were collected more than 60 days after the prior year-end. 6. Additional interest and penalties on delinquent taxes were accrued in the amount of $39,230, of which 30 percent was estimated to be uncollectible. \begin{tabular}{|l|l|l|l|l|} \hline 6 & General Fund & Interest and Penalties Receivable & 39,230 & \\ \hline & & Allowance for Uncollectible Interest and Penalties & 11,769 \\ \hline \end{tabular} Prepare a General Fund statement of revenues, expenditures CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2023 \begin{tabular}{|l|c|} \hline Revenues & \\ \hline Taxes & \\ \hline Interest and Penalties on Taxes & \\ \hline Other Sources & \\ \hline \multicolumn{1}{|c|}{ Total Revenues } & 0 \\ \hline Expenditures & \\ \hline Salaries and Wages & \\ \hline Interest on Notes Payable & \\ \hline Other & $ \\ \hline Total Expenditures & \\ \hline Excess of Revenues over Expenditures & \\ \hline Other Financing Uses & \\ \hline Change In Fund Balance & \\ \hline Increase in Inventory of Supplies & \\ \hline Fund Balances, July 1,2022 & \\ \hline Fund Balances, June 30,2023 & $ \\ \hline \end{tabular} Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. (If no entry required for a transaction/event, select "No Journal Entry Required" in the first account field.) 2. The city council authorized temporary borrowing of $580,000 in the form of a 120-day tax anticipation note obtained from a local bank. 3. The property tax levy for FY 2023 was recorded. Net assessed valuation of taxable property for the year was $45,900,000, and the tax rate was $5 per $100. It was estimated that 2 percent of the levy would be uncollectible. 4. Purchase orders and contracts were issued to vendors and others in the amount of $2,140,000. a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2023. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. c. Prepare a General Fund balance sheet as of June 30, 2023. d. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2023. \begin{tabular}{|l|l|l|l|} \hline Required A & Required B & Required C & Required D \\ \hline \end{tabular} Prepare a General Fund balance sheet as of June 30, 2023. 5. $2,090,000 of current taxes, $391,270 of delinquent taxes, $21,370 of interest and penalties, and $19,000 of accrued sales taxes were collected. The delinquent taxes and associated interest and penalties were collected more than 60 days after the prior year-end. 6. Additional interest and penalties on delinquent taxes were accrued in the amount of $39,230, of which 30 percent was estimated to be uncollectible. \begin{tabular}{|l|l|l|l|l|} \hline 6 & General Fund & Interest and Penalties Receivable & 39,230 & \\ \hline & & Allowance for Uncollectible Interest and Penalties & 11,769 \\ \hline \end{tabular} Prepare a General Fund statement of revenues, expenditures CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2023 \begin{tabular}{|l|c|} \hline Revenues & \\ \hline Taxes & \\ \hline Interest and Penalties on Taxes & \\ \hline Other Sources & \\ \hline \multicolumn{1}{|c|}{ Total Revenues } & 0 \\ \hline Expenditures & \\ \hline Salaries and Wages & \\ \hline Interest on Notes Payable & \\ \hline Other & $ \\ \hline Total Expenditures & \\ \hline Excess of Revenues over Expenditures & \\ \hline Other Financing Uses & \\ \hline Change In Fund Balance & \\ \hline Increase in Inventory of Supplies & \\ \hline Fund Balances, July 1,2022 & \\ \hline Fund Balances, June 30,2023 & $ \\ \hline \end{tabular}Step by Step Solution
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