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The City of Castletons General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year: Debits Credits Cash
The City of Castletons General Fund had the following post-closing trial balance at June 30, 2019, the end of its fiscal year:
Debits | Credits | ||||||
Cash | $ | 418,000 | |||||
Taxes ReceivableDelinquent | 590,000 | ||||||
Allowance for Uncollectible Delinquent Taxes | $ | 203,120 | |||||
Interest and Penalties Receivable | 26,980 | ||||||
Allowance for Uncollectible Interest and Penalties | 11,860 | ||||||
Inventory of Supplies | 16,800 | ||||||
Vouchers Payable | 155,500 | ||||||
Due to Federal Government | 66,490 | ||||||
Deferred Inflows of ResourcesUnavailable Revenues | 402,000 | ||||||
Fund BalanceNonspendableInventory of Supplies | 16,800 | ||||||
Fund BalanceUnassigned | 196,010 | ||||||
$ | 1,051,780 | $ | 1,051,780 | ||||
Prepare a General Fund balance sheet as of June 30, 2020.
Prepare a statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2020. Do not prepare the government-wide financial statements.
Not incomplete, this is the whole question.
CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0 CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0 CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0 CITY OF CASTLETON General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended June 30, 2020 Revenues Taxes Interest and Penalties on Taxes Other Sources 0 Total Revenues Expenditures Salaries and Wages Interest on Note Payable Other $ O Total Expenditures Excess of Revenues over Expenditures Increase in Inventory of Supplies Fund Balances, July 1, 2019 Fund Balances, June 30, 2020 $ 0Step by Step Solution
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