Q3. Following are December 31, 2013 trial balances (budgetary accounts excluded) for the General Fund, Debt Service Fund, and Capital Projects Fund for L.A. County.

Prepare a governmental funds balance sheet and a statement of revenues, expenditures, and changes in fund balances as of and for the year ended December 31, 2013.

The General Fund had encumbrances of $25 outstanding on December 31, 2013.

Debits Credits

General Fund

Cash $1,900

Property taxes receivable - delinquent 330

Allowance for uncollectible property taxes $ 10

Accounts payable 120

Deferred revenues 250

Unassigned fund balance, January 1, 2013 1,720

Revenues - property taxes 3,200

Revenues - licenses and fees 350

Revenues - parks admissions fees 40

Investment income 220

Expenditures - general government 360

Expenditures - public safety 1,800

Expenditures - public works 840

Expenditures - parks and culture 350

Transfer out to Debt Service Fund 250

Transfer out to Capital Projects Fund 80 ____ Totals $5,910 $5,910

Debt Service Fund

Cash $70

Assigned fund balance, January 1, 2013 $60

Expenditures - bond principal 110

Expenditures - interest 130

Transfer in from General Fund ___ 250

Totals $310 $310

Capital Projects Fund

Cash $240

Expenditures - capital outlay 420

Transfer in from General Fund $80

Proceeds of bonds ___ 580

Totals $660 $660