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 Ref. Account Description Est. Revenues Dr (Cr) Revenues Cr(Dr) Balance Dr (Cr) Estimated Revenues-Taxes-Real Property 102 Budget Authorization 6,552,400 6,552,400 103 Accrued Revenue 104 Previous Deferral 109 Deferral 6,555,200 347,000 (310,200) (2,800) (349,800) (39,600) 110 Budget Amendment 111 Closing entry 40,000 (6,592,400) 400 (6,592,000) 112 Closing entry (6,592,000) 0 Estimated Revenues-Taxes-Sales 102 Budget Authorization 103 Received in Cash 110 Budget Amendment 111 Closing Entry 112 Closing Entry 738,450 712,600 (25,180) (713,270) 738,450 25,850 670 (712,600) (712,600) Estimated Revenues-Interest and Penalties on Taxes 102 Budget Authorization 46,750 104 Previous Deferral 22,000 46,750 24,750 110 111 Budget Amendment Closing Entry (25,020) (21,730) (270) (22,000) 112 Closing Entry (22,000) 0 Estimated Revenues-Licenses and Permits 102 Budget Authorization 103 Received in Cash 111 Closing Entry 112 Closing Entry 462,950 457,050 (462,950) 462,950 5,900 (457,050) (457,050) Estimated Revenues-Fines and Forfeits 102 Budget Authorization 491,250 103 Received in Cash 495,250 111 Closing Entry (491,250) 491,250 (4,000) (495,250) 112 Closing Entry (495,250) 0 Estimated Revenues-Intergovernmental Revenue 102 Budget Authorization 510,250 103 Previous Deferral 103 Received in Cash 28,700 491,250 510,250 481,550 (9,700) 110 Budget Amendment 10,220 520 111 Closing Entry (520,470) (519,950) 112 Closing Entry (519,950) 0 Estimated Revenues-Charges for Services 102 Budget Authorization 334,500 103 Received in Cash 345,150 110 Budget Amendment 111 Closing Entry 10,180 (344,680) 334,500 (10,650) (470) (345,150) 112 Closing Entry (345,150) 0 Estimated Revenues-Charges for Services 102 Budget Authorization 334,500 334,500 103 Received in Cash 345,150 110 Budget Amendment 10,180 111 Closing Entry (344,680) (10,650) (470) (345,150) 112 Closing Entry (345,150) 0 Estimated Revenues-Miscellaneous Revenues 102 Budget Authorization 211,000 103 Received in Cash 217,375 111 Closing Entry (211,000) 211,000 (6,375) (217,375) 112 Closing Entry (217,375) 0 Ref. Account Description Enc. Increase APPROPRIATIONS LEDGER Enc. Decrease Appropriations-General Government 102 Budget Authorization 103 Purchase Orders 377,250 377,250 106 Payroll 107 Elimination 376,400 107 Goods Received 109 Utilities and Other 110 Budget Amendment 111 Closing Entry 112 Closing Entry Enc. Balance Exp. Dr (Cr) Exp. Balance Approp. Cr(Dr) Balance Cr(Dr) 1,829,750 1,829,750 1,452,500 1,448,176 1,448,176 4,324 850 378,300 11,200 1,826,476 1,837,676 10,200 (1,839,950) 380,724 2,424 (8,776) 1,424 (1,838,526) (1,837,676) (850) Appropriations-Public Safety 102 Budget Authorization 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 109 Utilities and Other 3,511,250 1,042,250 1,042,250 2,425,444 2,425,444 1,036,930 5,320 1,037,000 39,200 3,462,444 3,501,644 110 Budget Amendment 111 Closing Entry 112 Closing Entry Appropriations-Public Works 102 Budget Authorization 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 110 Budget Amendment 111 Closing Entry 112 Closing Entry Appropriations-Health and Welfare 102 Budget Authorization 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods received 111 Closing Entry 112 Closing Entry (3,501,644) (5,320) 1,705,650 1,705,650 938,460 921,200 938,460 17,260 781,281 781,281 767,190 (14,091) 907,109 920,990 1,702,271 (13,881) 10,200 (1,715,850) (3,681) (1,719,531) (1,702,271) (17,260) 1,031,750 1,031,750 634,415 634,415 397,335 397,713 397,713 634,415 0 (378) 634,037 633,945 1,031,658 92 (1,031,750) (1,031,658) (1,031,658) 0 (10,200) (3,501,050) 0 3,511,250 2,469,000 43,556 1,080,486 43,486 4,286 (5,914) (3,506,964) 107 Goods received 111 Closing Entry 112 Closing Entry 633,945 1,031,658 (1,031,658) 0 92 (1,031,750) (1,031,658) 0 102 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 111 Closing Entry 112 Closing Entry Appropriations-Culture and Recreation Budget Authorization 102 Appropriations-Miscellaneous Budget Authorization 103 Purchase Orders 107 Elimination 107 Goods Received 109 Utilities and Other 111 Closing Entry 112 Closing Entry 98,180 98,180 1,046,000 1,046,000 595,850 595,850 450,150 588,605 7,245 454,904 590,960 454,904 1,045,864 (4,754) 583,851 (7,109) (1,046,000) (1,045,864) 0 (1,053,109) (7,245) 99,950 99,950 1,770 98,180 0 99,950 98,180 10,200 98,180 108,380 1,770 (99,950) (8,430) (108,380) (108,380) 0 0 The beginning-of-the-year fund balance was $158,460. Estimated and actual Other Financing Uses-Interfund Transfers Out totaled $50,200. 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. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Show less 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. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund General Journal Debit Credit prior year. d. Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Show less 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. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Transaction Fund General Journal Debit Credit 1. Record from the ledger, the summary journal entries recorded to close the operating statement and budgetary accounts at the end of the year. 1 General Fund Appropriations Estimated Other Financing Sources 50,200 Budgetary Fund Balance Estimated Revenues 2 Revenues Fund Balance-Unassigned Expenditures Other Financing Uses Required A Required B > 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. Answer is not complete. 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 Account/Description Increase Dr General Government Public Safety Public Works Culture and Recreation Encumbrances Decrease Cr Encumbrances Balance Dr(Cr) 850 (850) 5,320 (5,320) 17,260 (17,260) 7,245 (7,245) < Required A Required C > Show less Revenues CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended Total Revenues 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 0 0 0 0 Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year. CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance Revenues Total Revenues Expenditures 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) < Required C 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 Required D