Question:

Following are the ledger balances in a government unit.

( Change the item names to suitable names and solve )

# General fund Gen process fees = 30 Fees receivable = 2.9 Spl revenue fund Grant revenue = 18 Vehicles (expenditure)=19.2 Cash = 0.9 Transfer in = 2.1 Cap project fund Issue of bonds = 28 Airport Project (exp) = 22.6 Cash = 3.3 Transfer out = 2.1 Operating expenses = 21 Expenses payable = 7 Cash = 13.1 Required: 1. Statement of fund revenue expenditure and changes in fund balance. 2. Fund balance sheet # General fund Gen process fees = 30 Fees receivable = 2.9 Spl revenue fund Grant revenue = 18 Vehicles (expenditure)=19.2 Cash = 0.9 Transfer in = 2.1 Cap project fund Issue of bonds = 28 Airport Project (exp) = 22.6 Cash = 3.3 Transfer out = 2.1 Operating expenses = 21 Expenses payable = 7 Cash = 13.1 Required: 1. Statement of fund revenue expenditure and changes in fund balance. 2. Fund balance sheet