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Please do not upload the same chegg from earlier. I tried the numbers and they are wrong. Nonspendable, unassigned, deferred inflows of resources, and revenues

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Please do not upload the same chegg from earlier.

I tried the numbers and they are wrong. Nonspendable, unassigned, deferred inflows of resources, and revenues is wrong

Adjusting and Closing Entries, Balance Sheet The preclosing trial balance for the general fund of Graystone County is given below: Dr (Cr) Cash $1,500,000 Taxes receivable 900,000 Allowance for uncollectible taxes (400,000) Supplies 180.000 Estimated revenues 12,000,000 Expenditures 10,675,000 Encumbrances 250,000 Due from other funds 210,000 Accounts payable (900,000) Due to other funds (150,000) Deferred inflows of resources (300,000) Revenues (12,200,000) Appropriations (11,000,000) Fund balance-nonspendable (180,000) Fund balance-assigned (250,000) Fund balance-unassigned (335,000) Total $0 Additional information: 1. At year-end, $350,000 in uncollected taxes are expected to be collected within 60 days. The remainder are considered uncollectible. 2. A physical count of inventory revealed $190,000 of supplies on hand. The county uses the consumption method. 3. Assigned fund balance consists of outstanding encumbrances at year-end. 4. Deferred inflows are taxes collected in advance of the year they are available to use. At year-end, taxes collected in advance but not available for use until next year total $250,000. > > . . 0 a. Prepare all year-end adjusting and closing entries for Graystone County's general fund. Description Debit Credit Revenues 150,000 Allowance for uncollectible taxes 0 150,000 To adjust the allowance balance. Supplies 10,000 Expenditures 10,000 To adjust ending supplies balance. Fund balance-unassigned 180,000 x Fund balance-nonspendable 180,000 x To adjust nonspendable fund balance. Deferred inflows of resources 50,000 X Revenues 50,000 x To adjust deferred inflows. Revenues Estimated revenues 12,000,000 Fund balance-unassigned 335,000 * To close revenues. Appropriations 11,000,000 Expenditures 10,750,000 x Encumbrances 250,000 Fund balance-unassigned 335,000 x To close expenditures and encumbrances. > 0 0 X 0 0 0 0 0 $ b. Prepare a year-end balance sheet for Graystone County's general fund. Assets Liabilities and fund balances Cash $ 1,500,000 Accounts payable Taxes receivable, less allowance foruncollectible delinquent taxes 350,000 Due to other funds Deferred inflows of resources Due from other funds 210,000 Fund balances: Supplies 190,000 Nonspendable Assigned Unassigned Total $ 2,250,000 Total 900,000 150,000 0x 180,000 x 250,000 335,000 x $ 2,250,000

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