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 6,452,400 6,452,400 103 Accrued Revenue 6,455,000 (2,600) 104 Previous Deferral 109 Deferral 345,000 (308,000) (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 103 Received in Cash 110 Budget Amendment 111 Closing Entry 112 Closing Entry 736,250 710,600 (25,000) 736,250 25,650 650 (711,250) (710,600) (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) 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) e Estimated Revenues-Fines and Forfeits 102 Budget Authorization 103 Received in Cash 111 Closing Entry 112 Closing Entry 489,250 489,250 493,050 (3,800) (489,250) (493,050) (493,050) Estimated Revenues-Intergovernmental Revenue 102 Budget Authorization 508,250 103 Previous Deferral 103 Received in Cash 28,500 489,250 508,250 479,750 110 Budget Amendment 10,000 (9,500) 500 111 Closing Entry (518,250) (517,750) 112 Closing Entry (517,750) Estimated Revenues-Charges for Services 102 Budget Authorization 332,500 103 Received in Cash 342,950 110 Budget Amendment 10,000 332,500 (10,450) (450) 111 Closing Entry (342,500) (342,950) 112 Closing Entry (342,950) 8 Estimated Revenues-Miscellaneous Revenues 102 Budget Authorization 209,000 209,000 103 Received in Cash 215,175 (6,175) 111 Closing Entry (209,000) (215,175) 112 Closing Entry (215,175) APPROPRIATIONS LEDGER Enc. Ref. Account Description Increase Enc. Decrease Appropriations-General Government 102 Budget Authorization 103 Purchase Orders 106 Payroll 107 Elimination 375,250 375,250 374,420 107 Goods Received 109 Utilities and Other 110 Budget Amendment 111 Closing Entry 112 Closing Entry 102 103 Appropriations-Public Safety Budget Authorization Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 109 Utilities and Other 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 Appropriations-Culture and Recreation 102 Budget Authorization 103 Purchase Orders 106 Payroll 107 Elimination 107 Goods Received 111 Closing Entry 112 Closing Entry 102 103 Appropriations-Miscellaneous Budget Authorization Purchase Orders 107 Elimination 107 Goods Received 109 Utilities and Other 111 Closing Entry 112 Closing Entry Enc. Balance Exp. Dr(Cr) Exp. Balance Approp. Balance Cr(Dr) Cr(Dr) 1,809,750 1,809,750 1,434,500 1,430,376 1,430,376 830 4,124 378,544 376,300 11,000 1,806,676 1,817,676 2,244 (8,756) 10,000 (1,819,750) 1,244 (1,818,506) (1,817,676) 8 (830) 3,491,250 3,491,250 1,040,250 1,040,250 2,451,000 2,407,644 2,407,644 43,356 1,034,950 5,300 1,078,306 1,035,000 39,000 3,442,644 3,481,644 43,306 4,306 (3,481,644) (10,000) (3,481,250) (5,694) (3,486,944) 8 (5,300) 1,686,250 1,686,250 936,460 936,460 749,790 763,481 763,481 (13,691) 919,220 17,240 905,529 918,990 1,682,471 (13,461) 10,000 (1,696,250) (3,461) (1,682,471) (1,699,711) (17,240) 1,011,750 1,011,750 632,435 632,435 379,673 379,673 632,435 632,005 1,011,678 379,315 (358) 632,077 72 (1,011,678) (1,011,750) (1,011,678) 8 1,026,000 1,026,000 593,870 593,870 432,130 436,864 436,864 (4,734) 586,645 7,225 581,911 589,000 1,025,864 (7,089) (1,026,000) (1,033,089) (1,025,864) 8 (7,225) 99,750 98,000 98,000 98,000 99,750 1,750 99,750 98,000 10,000 98,000 108,000 1,750 (8,250) (99,750) (108,000) (108,000) 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. Required A Required B Required C Required D 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.) Worksheet 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 2 General Fund Appropriations Estimated Other Financing Uses Budgetary Fund Balance Estimated Revenues Revenues Fund Balance-Unassigned Expenditures Other Financing Uses 50,000 50,000 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 Decrease Dr Cr Balance Dr(Cr) General Government Public Safety Public Works Culture and Recreation Required A Required B Required C Required D 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. CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance Revenues Charges for services For the Year Ended Taxes-Property Taxes-Sales Interest and Penalties on Taxes Licenses and Permits Fines and Forfeits Intergovernmental Revenue Miscellaneous Revenues Total Revenues Expenditures General Government $ 1,817,676 Public Safety 3,481,644 Public Works Health and Welfare Culture and Recreation Miscellaneous 1,682,471 1,011,678 1,025,864 108,000 Total Expenditures Excess of Revenues over Expenditures Other Financing Sources (Uses) Interfund Transfers Out Total Other Financing Sources (Uses) Increase in Fund Balances Fund Balances, January 1 Fund Balances, December 31 $ 342,950 6,492,000 710,600 21,800 455,050 493,050 517,750 215,175 9,248,375 9,127,333 121,042 $ 0 Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D 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 Charges for services Taxes-Property Taxes-Sales Interest and Penalties on Taxes Licenses and Permits Fines and Forfeits Intergovernmental Revenue Miscellaneous Revenues Total Revenues Expenditures General Government Public Safety Public Works Health and Welfare Culture and Recreation Miscellaneous 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 Actual Original Final 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