The adjusted pre-closing trial balance of the General Fund of the Village of Clearwater for the year ended December 31, 2017 is given below. You are required to prepare the following:
a. Journalize the appropriate Closing Entries
c. Prepare a Statement of Revenue, Expenditure and Changes in Fund Balance for the accounting period ended December 31, 2017.
b. Prepare a Balance Sheet as of December 31, 2017.
Village of Clearwater
Adjusted Pre-Closing Trial Balance at December 31, 2017
	Account Name		DEBIT	CREDIT
Cash			$200,000
Supplies Inventory			$12,000
Taxes Receivable - Current			$53,000
Allowance for Uncollectible Taxes Receivable-Current				$3,000
Taxes Receivable - Delinquent			$101,000
Allowance for Uncollectible Taxes Receivable-Delinquent				$10,000
Due from Capital Projects Fund			$15,000
Vouchers Payable				$48,000
Deferred Revenues				$11,000
Due to Internal Service Fund				$17,000
Tax Anticipation Note Payable				$125,000
Fund Balance				$150,000
Estimated Revenues			$525,000
Estimated Other Financing Uses				$40,000
Appropriations				$480,000
Budgetary Fund Balance				$5,000
Encumbrances			$11,000
Budgetary Fund Balance-Reserve for Encumbrances				$11,000
Revenue Control				$524,000
Expenditure Control			$475,000
Transfer from Capital Project Fund				$8,000
Transfer to Internal Service Fund			$40,000
			$1,432,000	$1,432,000