The following is a trial balance of the General Fund of the city of Lynnville as of December 31, 20X0, after closing entries:

Dr Cr

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $33,600

axes ReceivableDelinquent . . . . . . . . . . . . . . . . . . . . 25,400

Allowance for Uncollectible Delinquent Taxes . . . . . . . . . . . . . . . . . . .$ 5,900

Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........15,500

Allowance for Uncollectible Accounts . . . . . . . . . . . . . . . . . .2,500

Vouchers Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42,000

Fund Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...... 24,100

TOTAL $74,500 $74,500

( because interest and penalties on taxes are not material they are not accrued)

resestablished the encumbrances carried over from 20X0 $16,000.

The following transactions took place during 20X1:

1.The budget for the year was adopted. Revenues were estimated at $216,000;appropriations of $229,000 were made, including an appropriation of $16,000 for materials ordered in 20X0.

2.Delinquent taxes of $2,800 were declared uncollectible and written off.

3.Property taxes of $210,000 were levied; a 3 percent allowance for estimated losses was provided.

4.Uniforms estimated to cost $15,000 were ordered, as was a snowplow estimated to cost $3,500.

5.The materials ordered in 20X0 and set up as an encumbrance of that year for$16,000 was received; the actual cost, $15,000, was vouchered for later payment.

6.Collections were made as follows:

Current Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $182,000

Delinquent Taxes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8,500

Interest and Penalties on Taxes . . . . . . . . . . . . . . . . . . . . . . . . . .200

Accounts Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7,300

Total $198,000

7.Received a bill for $3,000 from the city central printing shop.

8.Payroll vouchers for $100,000 were approved and paid, as was a transfer of$38,000 to a Debt Service Fund to cover serial bond debt service.

9.The uniforms and snowplow (ordered in 4) were received; the invoices were for$16,000 and $3,800, respectively..

10. Delinquent taxes of $350, written off in preceding years, were collected.

11. Current taxes receivable became delinquent.

12. Paid $200 to a Special Revenue Fund for supplies acquired for General Fund purposes, but originally paid for from (and recorded as expenditures in) a Special Revenue Fund; and paid $60,000 of vouchers payable.

13. An order was placed for equipment estimated to cost $24,000.

14. Miscellaneous revenues of $5,000 were collected, and $5,000 was received from a discontinued Capital Projects Fund.

Required :

1. Prepare Journal Entries.

2. Enter the opening trial balance to T- Accounts and post the journal entries above i (1) to T-accounts. ( Hint open T- Accounts for the transactions with no already existing Accounts)

3. Prepare preclosing trial balance at December 31 20X1.

4. Prepare Closing entries and post to the T- Accounts.

5. Prepare closing trial balance as at December 31,20X1.