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Posted on Jul 10, 2024

The finance director for the City of Green Falls printed the General Pund Revenues and Appropriations Ledgers shown below for the year just ended REVENUES

The finance director for the City of Green Falls printed the General Pund Revenues and Appropriations Ledgers shown below for the year just ended REVENUES LEDGER Est. Revenues Revenues Balance Ref. Account Description Dr(r) Cr(Dr) Dr(cm) Estimated Revenues-Taxes-Real Property 102 Budget Authorization 6,952,400 6,952,400 103 Accrued Revenue 6,956, Bee (3,668) 104 Previous Deferral 355,000 (358, 600) 109 Deferral (319,000) (39,600) 110 Budget Amendment 40,000 400 111 Closing entry (6,992,400) (6,992,800 112 Closing entry - 6,992,000) Estimated Revenues-Taxes-Sales 102 Budget Authorization 747,250 747,250 103 Received in Cash 720,600 26,650 110 Budget Amendment (25,990) 750 111 Closing Entry (721,350) 1720,6801 112 Closing Entry (720,600) Estimated Revenues-Interest and Penalties on Taxes 102 Budget Authorization 47,550 47,550 Previous Deferral 22,800 24,750 110 Budget Amendment (25,100) (350) 111 Closing Entry (22,450) 112 (22,800) Closing Entry (22,800) Estimated Revenues--Licenses and Permits 102 Budget Authorization 471,750 471,750 103 Received in Cash 111 Closing Entry 465,050 6,700 112 (471,750) (465, 050) Closing Entry (465,050) 0 Estimated Revenues-Fines and Forfeits 102 Budget Authorization 499.250 499,250 104 work 499, 250 499, 250 (4,880) (584,050) 102 103 111 112 504,050 (504,858) (499,258) 518,250 102 103 103 29,500 499, 250 518,250 488,750 (10,580) 600 (528,750) 110 11,100 (529,350) 111 112 (528,750) Estimated Revenues-Fines and Forfeits Budget Authorization Received in Cash Closing Entry Closing Entry Estimated Revenues-Intergovernmental Revenue Budget Authorization Previous Deferral Received in Cash Budget Amendment Closing Entry Closing Entry Estimated Revenues-Charges for Services Budget Authorization Received in Cash Budget Amendment Closing Entry Closing Entry Estimated Revenues-Miscellaneous Revenues Budget Authorization Received in Cash Closing Entry Closing Entry 342,500 353,950 102 103 110 111 112 342,500 (11,450) (550) (353,950) 10,900 (353,400) (353,950) 219,000 (219,000) 102 103 111 112 226,175 219,000 (7,175) (226,175) (226,175) Enc Increase Enc. Decrease Enc Balance Exp . Dr(Cri Exp . Balance Approp , Cr(Dr Balance Crior) 1,909,750 385,250 385,250 1,519,376 1,519,376 384,320 930 386,300 12,000 1,905,676 1,917,676 1.999,750 1.524.500 5,124 389,444 3,144 (8.856 2,144 (1.918.606 1930) 11,000 (1,928,750) (1,917,676) 3,591,250 1,050,250 1,050,250 5,400 2,496,644 1,044,850 Account Description Appropriations-General Government Budget Authorization Purchase Orders Payroll Elimination Goods Received Utilities and Other Budget Amendment Closing Entry Closing Entry Appropriations Public Safety Budget Authorization Purchase Orders Payroll Elimination Goods Received Utilities and Other Budget Anendent Closing Entry Closing Entry Appropriations-Public Works Budget Authorization Purchase Orders Payroll Elimination Goods Received Budget Anendent Closing Entry Closing Entry Appropriations-Health and Welfare Budget Authorization Purchase Orders Payroll 2,496,644 3,541,644 3,581,644 1.045,000 40.000 3,591,250 2,541,00 44,356 1,089,206 44,206 4,205 (6,794) (3,587,844 (5,400) (11,000 (3,580,250) 13,581,6449 1,783, 250 946, 460 946, 460 17.340 B52,481 929,120 852,481 928,990 3,781,471 1.783, 250 836,790 (15,6911 913, 429 (15,5611 (4,561 11,798,811 (17,340 21,000 11,794,250) (1,781,4711 1,111,750 642335 1642,335 1,111,750 469,415 1458 469.873 469,873 1,111,750 642,335 642,335 469,873 469,873 642,335 1,111,750 469,415 (458) 641,877 172 11. 111,578) 0 541,705 1,111,578 (1,111,750 11,111,578) 1,126,00 603,778 683,270 Approracunan Were Budget Authorization Purchase Orders Payroll Elimination Goods received Closing Entry Closing Entry Appropriations culture and Recreation Budget Authorization Purchase Orders Payroll Elimination Goods Received Closing Entry Closing Entry Appropriations-Kiscellaneous Budget Authorization Purchase Orders Elimination Goods Received Utilities and Other Closing Entry Closing Entry 527,064 527,064 595, 445 7.325 1,126,000 522.230 (4,834) 591,611 17, 189 (1,133,189) 17,325) 1,125,864 598,800 (1.125,064) 11,126,0001 180,750 98.900 93,900 99,900 98,900 11,000 98.900 109,900 100,250 1,850 100, 750 1,850 19,150) (109,9001 (180,750 (109,900 107 98,980 98,989 109,900 107 109 111 112 Elimination Goods Received Utilities and other Closing Entry Closing Entry 98,980 11,800 (189,908) (100,758) The beginning-of-the-year fund balance was $159.260. Estimated and actual Other Financing Uses --Interfund Transfers Out totaled $51,000 Required 2. From the ledger detall, 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? - 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. Show less Required A Required B Required Required 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) The finance director for the City of Green Falls printed the General Pund Revenues and Appropriations Ledgers shown below for the year just ended REVENUES LEDGER Est. Revenues Revenues Balance Ref. Account Description Dr(r) Cr(Dr) Dr(cm) Estimated Revenues-Taxes-Real Property 102 Budget Authorization 6,952,400 6,952,400 103 Accrued Revenue 6,956, Bee (3,668) 104 Previous Deferral 355,000 (358, 600) 109 Deferral (319,000) (39,600) 110 Budget Amendment 40,000 400 111 Closing entry (6,992,400) (6,992,800 112 Closing entry - 6,992,000) Estimated Revenues-Taxes-Sales 102 Budget Authorization 747,250 747,250 103 Received in Cash 720,600 26,650 110 Budget Amendment (25,990) 750 111 Closing Entry (721,350) 1720,6801 112 Closing Entry (720,600) Estimated Revenues-Interest and Penalties on Taxes 102 Budget Authorization 47,550 47,550 Previous Deferral 22,800 24,750 110 Budget Amendment (25,100) (350) 111 Closing Entry (22,450) 112 (22,800) Closing Entry (22,800) Estimated Revenues--Licenses and Permits 102 Budget Authorization 471,750 471,750 103 Received in Cash 111 Closing Entry 465,050 6,700 112 (471,750) (465, 050) Closing Entry (465,050) 0 Estimated Revenues-Fines and Forfeits 102 Budget Authorization 499.250 499,250 104 work 499, 250 499, 250 (4,880) (584,050) 102 103 111 112 504,050 (504,858) (499,258) 518,250 102 103 103 29,500 499, 250 518,250 488,750 (10,580) 600 (528,750) 110 11,100 (529,350) 111 112 (528,750) Estimated Revenues-Fines and Forfeits Budget Authorization Received in Cash Closing Entry Closing Entry Estimated Revenues-Intergovernmental Revenue Budget Authorization Previous Deferral Received in Cash Budget Amendment Closing Entry Closing Entry Estimated Revenues-Charges for Services Budget Authorization Received in Cash Budget Amendment Closing Entry Closing Entry Estimated Revenues-Miscellaneous Revenues Budget Authorization Received in Cash Closing Entry Closing Entry 342,500 353,950 102 103 110 111 112 342,500 (11,450) (550) (353,950) 10,900 (353,400) (353,950) 219,000 (219,000) 102 103 111 112 226,175 219,000 (7,175) (226,175) (226,175) Enc Increase Enc. Decrease Enc Balance Exp . Dr(Cri Exp . Balance Approp , Cr(Dr Balance Crior) 1,909,750 385,250 385,250 1,519,376 1,519,376 384,320 930 386,300 12,000 1,905,676 1,917,676 1.999,750 1.524.500 5,124 389,444 3,144 (8.856 2,144 (1.918.606 1930) 11,000 (1,928,750) (1,917,676) 3,591,250 1,050,250 1,050,250 5,400 2,496,644 1,044,850 Account Description Appropriations-General Government Budget Authorization Purchase Orders Payroll Elimination Goods Received Utilities and Other Budget Amendment Closing Entry Closing Entry Appropriations Public Safety Budget Authorization Purchase Orders Payroll Elimination Goods Received Utilities and Other Budget Anendent Closing Entry Closing Entry Appropriations-Public Works Budget Authorization Purchase Orders Payroll Elimination Goods Received Budget Anendent Closing Entry Closing Entry Appropriations-Health and Welfare Budget Authorization Purchase Orders Payroll 2,496,644 3,541,644 3,581,644 1.045,000 40.000 3,591,250 2,541,00 44,356 1,089,206 44,206 4,205 (6,794) (3,587,844 (5,400) (11,000 (3,580,250) 13,581,6449 1,783, 250 946, 460 946, 460 17.340 B52,481 929,120 852,481 928,990 3,781,471 1.783, 250 836,790 (15,6911 913, 429 (15,5611 (4,561 11,798,811 (17,340 21,000 11,794,250) (1,781,4711 1,111,750 642335 1642,335 1,111,750 469,415 1458 469.873 469,873 1,111,750 642,335 642,335 469,873 469,873 642,335 1,111,750 469,415 (458) 641,877 172 11. 111,578) 0 541,705 1,111,578 (1,111,750 11,111,578) 1,126,00 603,778 683,270 Approracunan Were Budget Authorization Purchase Orders Payroll Elimination Goods received Closing Entry Closing Entry Appropriations culture and Recreation Budget Authorization Purchase Orders Payroll Elimination Goods Received Closing Entry Closing Entry Appropriations-Kiscellaneous Budget Authorization Purchase Orders Elimination Goods Received Utilities and Other Closing Entry Closing Entry 527,064 527,064 595, 445 7.325 1,126,000 522.230 (4,834) 591,611 17, 189 (1,133,189) 17,325) 1,125,864 598,800 (1.125,064) 11,126,0001 180,750 98.900 93,900 99,900 98,900 11,000 98.900 109,900 100,250 1,850 100, 750 1,850 19,150) (109,9001 (180,750 (109,900 107 98,980 98,989 109,900 107 109 111 112 Elimination Goods Received Utilities and other Closing Entry Closing Entry 98,980 11,800 (189,908) (100,758) The beginning-of-the-year fund balance was $159.260. Estimated and actual Other Financing Uses --Interfund Transfers Out totaled $51,000 Required 2. From the ledger detall, 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? - 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. Show less Required A Required B Required Required 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)