Prepare preclosing trial balances for all funds. Prepare a governmental funds balance sheet; a governmental funds statement of revenues, expenditures, and changes in fund balances; and a General Fund budgetary comparison schedule. Consider all funds as major funds for this exercise, and classify the fund balance for the Debt Service Fund as Assigned fund balance. In addition, make calculations to determine which of the funds would be considered as nonmajor if Croton had not considered all of them to be major.

Preclosing Trial Balance for Croton City
General Fund
December 31, 2019
	Debits	Credits
Budgetary Accounts
Estimated revenues property taxes	Answer	Answer
Estimated revenues personal income taxes	Answer	Answer
Estimated revenues intergovernmental	Answer	Answer
Estimated revenues recreation fees	Answer	Answer
Budgetary fund balance	Answer	Answer
Appropriations public safety salaries	Answer	Answer
Appropriations public safety supplies	Answer	Answer
Appropriations public works salaries	Answer	Answer
Appropriations parks salaries	Answer	Answer
Appropriations transfer to Library Fund	Answer	Answer
Appropriations transfer to Debt Service Fund	Answer	Answer
Encumbrances	Answer	Answer
Budgetary fund balance reserved for encumbrances	Answer	Answer
Financial Accounts
Cash	Answer	Answer
Property taxes receivable delinquent	Answer	Answer
Income taxes receivable	Answer	Answer
Allowance for uncollectible property taxes delinquent	Answer	Answer
Income tax refunds payable	Answer	Answer
Salaries payable	Answer	Answer
Accrued vacation pay payable	Answer	Answer
Deferred property tax revenues	Answer	Answer
Unassigned fund balance	Answer	Answer
Revenues property taxes	Answer	Answer
Revenues personal income taxes	Answer	Answer
Revenues intergovernmental	Answer	Answer
Revenues recreation fees	Answer	Answer
Expenditures public safety salaries	Answer	Answer
Expenditures public safety supplies	Answer	Answer
Expenditures public works salaries	Answer	Answer
Expenditures parks salaries	Answer	Answer
Transfer out to Library Special Revenue Fund	Answer	Answer
Transfer out to Debt Service Fund	Answer	Answer
Totals	Answer	Answer

Preclosing Trial Balance for Croton City
Library Special Revenue Fund
December 31, 2019
	Debits	Credits
Cash	Answer	Answer
Restricted fund balance	Answer	Answer
Transfer in from General Fund	Answer	Answer
Revenues - intergovernmental grant	Answer	Answer
Revenues - miscellaneous	Answer	Answer
Expenditures - culture salaries	Answer	Answer
Expenditures - culture supplies	Answer	Answer
Totals	Answer	Answer

Preclosing Trial Balance for Croton City
Capital Projects Fund
December 31, 2019
	Debits	Credits
Revenues - intergovernmental grants	Answer	Answer
Other financing source long-term debt issued	Answer	Answer
Expenditures - construction costs	Answer	Answer
Expenditures - architect/supervision fees	Answer	Answer
Totals	Answer	Answer

Preclosing Trial Balance for Croton City
Debt Service Fund
December 31, 2019
	Debits	Credits
Cash	Answer	Answer
Transfer in from General Fund	Answer	Answer
Expenditures - interest	Answer	Answer
Expenditures - bond principal	Answer	Answer
Totals	Answer	Answer