Required a. From the ledger detail, reproduce the summary journal entries recorded in the General Fund general journal to close the operating statement and budgetary accounts at the end of the year. b. What are the amounts of encumbrances outstanding at year-end? c. Prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of the City of Green Falls for the prior year. d. Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D What are the amounts of encumbrances outstanding at year-end? CITY OF GREEN FALLS Encumbrances Ledger Encumbrances Encumbrances Encumbrances Account/Description Increase Dr General Government Public Safety Public Works Culture and Recreation Decrease Cr Balance Dr(Cr) < Required A Required C > 11 CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended LO 5 points Skipped eBook Print Revenues Total Revenues References Expenditures Total Expenditures Excess of Revenues over Expenditures Other Financing Sources (Uses) Total Other Financing Sources (Uses) Increase in Fund Balances Fund Balances, January 1 Fund Balances, December 31 Revenues Total Revenues Expenditures CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance Total Expenditures Excess of Revenues over Expenditures and encumbrances Other Financing Uses Increase in Encumbrances O/S Increase in Fund Balance Fund Balances, 1/1 Fund Balances, 12/31 For the Year Ended Budgeted Amounts Original Final Actual Amounts Budget Basis Variance with Final Budget Over (Under) $ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0 < Prev 11 of 13 Next > The finance director for the City of Green Falls printed the General Fund Revenues and Appropriations Ledgers shown below for the year just ended. REVENUES LEDGER Est. Revenues Ref. Account Description Dr(Cr) Revenues Cr(Dr) Balance Dr (Cr) Estimated Revenues-Taxes-Real Property 102 Budget Authorization 6,452,400 6,452,400 103 Accrued Revenue 104 Previous Deferral 109 Deferral 6,455,000 345,000 (308,000) (2,600) (347,600) (39,600) 110 Budget Amendment 111 Closing entry 40,000 (6,492,400) 400 (6,492,000) 112 Closing entry (6,492,000) Estimated Revenues-Taxes-Sales 102 Budget Authorization 736,250 103 Received in Cash 710,600 110 Budget Amendment (25,000) 736,250 25,650 650 111 Closing Entry (711,250) (710,600) 112 Closing Entry (710,600) Estimated Revenues-Interest and Penalties on Taxes 102 Budget Authorization 46,550 104 Previous Deferral 21,800 46,550 24,750 110 Budget Amendment 111 Closing Entry (25,000) (21,550) (250) (21,800) 112 Closing Entry (21,800) 0 Estimated Revenues-Licenses and Permits 102 Budget Authorization 103 Received in Cash 111 Closing Entry 112 Closing Entry 460,750 455,050 (460,750) 460,750 5,700 (455,050) (455,050) 0 Estimated Revenues-Fines and Forfeits 102 Budget Authorization 489,250 489,250 103 Received in Cash 493,050 111 Closing Entry (489,250) (3,800) (493,050) 112 Closing Entry (493,050) 0 Estimated Revenues-Intergovernmental Revenue 102 Budget Authorization 508,250 508,250 103 Previous Deferral 103 Received in Cash 28,500 489,250 479,750 (9,500) 110 Budget Amendment 111 Closing Entry 10,000 (518,250) 500 (517,750) 112 Closing Entry (517 750) a 111 Closing Entry (518,250) (517,750) 112 Closing Entry (517,750) 0 Estimated Revenues-Charges for Services 102 Budget Authorization 332,500 103 Received in Cash 342,950 110 Budget Amendment 111 Closing Entry 10,000 (342,500) 332,500 (10,450) (450) (342,950) 112 Closing Entry (342,950) Estimated Revenues-Miscellaneous Revenues 102 Budget Authorization 103 Received in Cash 111 Closing Entry 112 Closing Entry 209,000 215,175 (209,000) 209,000 (6,175) (215,175) (215,175) 0 APPROPRIATIONS LEDGER Enc. Ref. Account Description Increase Enc. Decrease Enc. Balance Exp. Dr(Cr) Exp. Balance Approp. Cr(Dr) Balance Cr(Dr) Appropriations-General Government 102 Budget Authorization 1,809,750 1,809,750 103 Purchase Orders 375,250 375,250 1,434,500 106 Payroll 1,430,376 1,430,376 4,124 107 Elimination 374,420 830 378,544 107 Goods Received 109 Utilities and Other 376,300 11,000 1,806,676 1,817,676 2,244 110 Budget Amendment (8,756) 1,244 111 Closing Entry 112 Closing Entry (1,817,676) Appropriations-Public Safety Budget Authorization 102 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 109 Utilities and Other 110. Budget Amendment 111 Closing Entry 112 Closing Entry 102 103 Appropriations-Public Works Budget Authorization Purchase Orders 106. Payroll 107 Elimination 107 Goods Received 110 Budget Amendment 10,000 (1,819,750) (1,818,506) 0 (830) 3,491,250 3,491,250 1,040,250 1,040,250 2,451,000 2,407,644 2,407,644 1,034,950 5,300 1,035,000 39,000 3,442,644 3,481,644 (3,481,644) (10,000) (3,481,250) 0 43,356 1,078,306 43,306 4,306 (5,694) (3,486,944) (5,300) 1,686,250 1,686,250 936,460 936,460 749,790 919,220 17,240 763,481 918,990 763,481 (13,691) 905,529 1,682,471 (13,461) 10,000 (3,461) 111 Closing Entry 112 Closing Entry 102 103 Appropriations-Health and Welfare Budget Authorization Purchase Orders 106 Payroll 107 Elimination 107 Goods received 111 Closing Entry 112 Closing Entry Appropriations-Culture and Recreation 102 Budget Authorization 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 111 Closing Entry 112 Closing Entry 632,435 632,435 632,435 (1,696,250) (1,682,471) 0 (1,699,711) (17,240) 1,011,750 0 379,673 632,005 379,673 1,011,750 379,315 (358) 632,077 1,011,678 (1,011,678) 72 (1,011,750) (1,011,678) 0 0 1,026,000 1,026,000 593,870 593,870 432,130 436,864 436,864 586,645 7,225 (4,734) 581,911 589,000 1,025,864 (1,026,000) (1,025,864) 0 (7,089) (1,033,089) (7,225) 102 Appropriations-Miscellaneous Budget Authorization 103 Purchase Orders 107 Elimination 107 Goods Received 109 Utilities and Other 111 Closing Entry 99,750 98,000 98,000 98,000 0 98,000 10,000 98,000 108,000 99,750 1,750 99,750 1,750 (8,250) (99,750) (108,000) 112 Closing Entry (108,000) 0 The beginning-of-the-year fund balance was $158,260. Estimated and actual Other Financing Uses-Interfund Transfers Out totaled $50,000. Required a. From the ledger detail, reproduce the summary journal entries recorded in the General Fund general journal to close the operating statement and budgetary accounts at the end of the year. b. What are the amounts of encumbrances outstanding at year-end? c. Prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of the City of Green Falls for the prior year. d. Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year. Complete this question by entering your answers in the tabs below