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PLEASE ASSIST WITH PART B, C, and D The City of Castleton's General Fund had the following post-closing trial balance at June 30, 2019, the
PLEASE ASSIST WITH PART B, C, and D
The City of Castleton's General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year: Credits Debits $ 476,000 601,000 $ 189,120 28,080 12,960 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable Allowance for Uncollectible Interest and Penalties Inventory of Supplies Vouchers Payable Due to Federal Government Deferred Inflows of Resources Unavailable Revenues Fund Balance-Nonspendable-Inventory of Supplies Fund Balance-Unassigned 17,900 166,500 77,490 427,000 17,900 $1,122,980 232,010 $1,122,980 a. Record the effect of the following transactions on the General Fund and governmental activities for the year ended June 30, 2020. b. Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. c. Prepare a General Fund balance sheet as of June 30, 2020. d. Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2020. Do not prepare the government-wide financial statements. Complete this question by entering your answers in the tabs below. Required a Required B Required C Required D Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do no governmental activities accounts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first i field. Do not round intermediate calculations.) Debit Credit Transactions Fund General Journal 1. Record the closure of budgetary statements account. 1 General Fund Appropriations Estimated Revenues Budgetary Fund Balance 3,442,000 3,384,000 58,000 2. Record the closure of operating statements account 2 General Fund Revenues Expenditures Fund Balance-Unassigned Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a General Fund balance sheet as of June 30, 2020. $ 476,000 $ 411,880 601,000 (189,120) 28,080 (12,960) CITY OF CASTLETON General Fund Balance Sheet As of June 30, 2020 Assets Cash Taxes Receivable-Delinquent Less: Allowance for Uncollectible Taxes-Delinquent Interest and Penalties Receivable Less: Allowance for Uncollectible Interest and Penalties Inventory of Supplies Total Assets Liabilities and Fund Balances Liabilities: Vouchers Payable Deferred Inflows of ResourcesUnavailable Revenues Total Liabilities and Deferred Inflows of Resources Fund Balances: NonspendableInventory of Supplies Unassigned Total Fund Balances Total Liabilities and Fund Balances 15,120 17,900 920,900 $ $ 166,500 77,490 243,990 17,900 232,010 249,910 493,900 $ Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Prepare a General Fund balance sheet as of June 30, 2020. $ 476,000 $ 411,880 601,000 (189,120) 28,080 (12,960) CITY OF CASTLETON General Fund Balance Sheet As of June 30, 2020 Assets Cash Taxes Receivable-Delinquent Less: Allowance for Uncollectible Taxes-Delinquent Interest and Penalties Receivable Less: Allowance for Uncollectible Interest and Penalties Inventory of Supplies Total Assets Liabilities and Fund Balances Liabilities: Vouchers Payable Deferred Inflows of ResourcesUnavailable Revenues Total Liabilities and Deferred Inflows of Resources Fund Balances: NonspendableInventory of Supplies Unassigned Total Fund Balances Total Liabilities and Fund Balances 15,120 17,900 920,900 $ $ 166,500 77,490 243,990 17,900 232,010 249,910 493,900 $Step by Step Solution
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