Question 6 Not complete Marked out of 54.00 P Raquestion Adjusting and Closing Entries, Balance Sheet The preclosing trial balance for the general fund of Graystone County is given below: Den Cash 31.500.000 Tares receivable 900.000 Allowance for collectible taxes 100,0001 Supplies 180.000 Estimated revenues 12.000.000 Expenditures 10,675.000 Encubantes 250.000 Due from other und 210,000 Accounts payable 0.0001 Dother funt (150.000 Dwere info of resources 300.000 (12.200.000 11.00 ancora 110.000 250.000 mand 5.000 10 Additional information 1 At year-end, $150.000 in un collected ones are expected to be collected within 60 days. The remainder are considered uncollectible 2. Aphyll count of inventory revealed $100,000 of supplies on hand. The county as the consumption method Assed fund balance consists of outstandinencumbrance your end Deferred inflows are collected in advance of the year they are to use Alyaendes collected in advance but not able for startet 000 Noord Required a. Prepare all year-end adjusting and closing entries for Graystone County's general fund. Description Debit Credit 0 O O 0 To adjust the allowance balance. 0 OO e 0 To adjust ending supplies balance. 0 oo 0 To adjust nonspendable fund balance. 0 147 OO 0 To adjust deferred inflows OOO Fund balance-unassigned To close revenues. o o o o Encumbrances Fund balance-unassigned To close expenditures and encumbrances. $ 0 0 0 b. Prepare a year-end balance sheet for Graystone County's general fund. Assets Liabilities and fund balances Cash $ Accounts payable Taxes receivable, less allowance foruncollectible delinquent taxes o Due toother funds Deferred inflows of resources Due from other funds 0 Fund balances: Supplies 0 Nonspendable Assigned Unassigned Total $ 0 Total OOOO $ Question 6 Not complete Marked out of 54.00 P Raquestion Adjusting and Closing Entries, Balance Sheet The preclosing trial balance for the general fund of Graystone County is given below: Den Cash 31.500.000 Tares receivable 900.000 Allowance for collectible taxes 100,0001 Supplies 180.000 Estimated revenues 12.000.000 Expenditures 10,675.000 Encubantes 250.000 Due from other und 210,000 Accounts payable 0.0001 Dother funt (150.000 Dwere info of resources 300.000 (12.200.000 11.00 ancora 110.000 250.000 mand 5.000 10 Additional information 1 At year-end, $150.000 in un collected ones are expected to be collected within 60 days. The remainder are considered uncollectible 2. Aphyll count of inventory revealed $100,000 of supplies on hand. The county as the consumption method Assed fund balance consists of outstandinencumbrance your end Deferred inflows are collected in advance of the year they are to use Alyaendes collected in advance but not able for startet 000 Noord Required a. Prepare all year-end adjusting and closing entries for Graystone County's general fund. Description Debit Credit 0 O O 0 To adjust the allowance balance. 0 OO e 0 To adjust ending supplies balance. 0 oo 0 To adjust nonspendable fund balance. 0 147 OO 0 To adjust deferred inflows OOO Fund balance-unassigned To close revenues. o o o o Encumbrances Fund balance-unassigned To close expenditures and encumbrances. $ 0 0 0 b. Prepare a year-end balance sheet for Graystone County's general fund. Assets Liabilities and fund balances Cash $ Accounts payable Taxes receivable, less allowance foruncollectible delinquent taxes o Due toother funds Deferred inflows of resources Due from other funds 0 Fund balances: Supplies 0 Nonspendable Assigned Unassigned Total $ 0 Total OOOO $
