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Please anwer all parts of the question Gelow are the fuly 1, 2022, balancer foe the general fund of Montana County The countys flucal year

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Gelow are the fuly 1, 2022, balancer foe the general fund of Montana County The countys flucal year ends june 30 . balance for tanes receivable are uncollected 2022 takes. Al expeditures ave recorded in axcounts poyable. The followncevents accurred in focal 2023 . 156.006, Aconied the state erants. 2. Levled property taxes of $300,000, of which 5 percent are estimated to be uncollectible. Collected $280,000 of these taxes. 3. Recelved $25,000 in state grants. 4. Collected $10,000 in 2022 taxes; wrote off the remainder. 5. Transferred $50,000 to the special revenue fund. 6. Received $65,000 in cash for fees and licenses. 7. Received the inventories connected with purchase orders outstanding as of the end of fiscal 2022. The bill was $3,200. 8. Paid $8,000 to the capital projects fund, as a temporary loan. 9. Received $12,000 from the special revenue fund as partial repayment of a loan made in fiscal 2019. 10. Purchased inventories of $45,000. 11. Made other expenditures of $320,000 during the year. Purchase orders outstanding at year-end total $1,600. 12. Total accounts payable paid in fiscal 2023 amounted to $367,000. 13. Of the fiscal 2023 taxes uncollected at year-end, $8,000 are expected to be collected within 60 days. b. Prepare entries necessary to record the events of the year and any year-end adjustments. To record transfer to special revenue fund. To record receipt of inventories on purchase orders sent last year. To record advance to capital projects fund. Prepare any adjusting entries related to item (13) above. Note: If space provided for second Journal entry is not needed, select N/A as your debit and credit accounts and leave amounts blank (zero). c. Prepare the necessary closing entries for June 30,2023. d. Present, in good form, the statement of revenues, expenditures and changes in fund balances for Montana County for fiscal zoz3. Include a reconclistion of beginding and ending fund balances - Use negative signs with excess revenues over (under) expenditures answers, if "under" applies. - Use a negative sign any amount that reduces the balance (lie. expenditures \& transfers oug). e. Present, in good form, the balance sheet for the general fund of Montana County for June 30, 2023. General Fund - Entries and Financlal Statements Below are the July 1, 2022, balances for the general fund of Montana County. The county's fiscal year ends June 30. Montana County uses the purchases method for inventories, and the GAAP budgetary basis for encumbrances outstanding at year-end. Assigned fund balance consists of outstanding encumbrances. The beginning balance for taxes receivable are uncollected 2022 taxes. All expenditures are recorded in accounts payable. The following events occurred in fiscal 2023: 1. Passed the 2023 budget, consisting of expected revenuies from property taxes, fees and licenses of $370,500, expected state grants of $40,000, estimated expenditures of $370,000, and expected transfers out of $50,000. Accrued the state grants. a. Prepare entries necessary at the beginning of the year to record the budget and make any other necessary adjustments or accruals. 2. Levied property taxes of $300,000, of which 5 percent are estimated to be uncollectible. Collected $280,000 of these taxes. 3. Received $25,000 in state grants. 4. Collected $10,000 in 2022 taxes; wrote off the remainder. 5. Transferred $50,000 to the special revenue fund. 6. Received $65,000 in cash for fees and licenses. 7. Received the inventories connected with purchase orders outstanding as of the end of fiscal 2022. The bill was $3,200. 8. Paid $8,000 to the capital projects fund, as a temporary loan. 9. Received $12,000 from the special revenue fund as partial repayment of a loan made in fiscal 2019. 10. Purchased inventories of $45,000. 11. Made other expenditures of $320,000 during the year. Purchase orders outstanding at year-end total $1,600 12. Total accounts payable paid in fiscal 2023 amounted to $367,000. 13. Of the fiscal 2023 taxes uncollected at year-end, $8,000 are expected to be collected within 60 days. b. Prepare entries necessary to record the events of the year and any year-end adjustments. To record recelpt of inventorles on purchase orders sent last year. Prepare any adjusting entries related to item (13) above. Note: If space provided for second journal entry is not needed, select N/A as your debit and credit accounts and leave amounts blank (zero). c. Prepare the necessarv closing entries for lune 30.2073 d. Present, in good form, the statement of revenues, expenditures and changes in fund balances for Montana county for fiscal 2023. Include a reconciliation of beginning and ending fund balances. - Use negative signs with excess revenues over (under) expenditures answers, if "under" applies. - Use a negative sign any amount that reduces the balance (i.e. expenditures \& transfers out). e. Present. in good form. the halanre sheet for the deneral fund of Montana County for June 30,2023. Riease answer all parts or the

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