the following is a trial balance of the general fund of the coty lynville as of december 31 20x0 after closing entries

Not for Prof Assigament I Due 18 November 2015 The following is a trial balance of the General Fund of the city of Lymmville as of December 31, 20X0, after closing entries: Cash Taxes Receivable-Delinguent Allowance for Uncollectible Delingment Taxes Accomts Receivable.. Allowance for Uncollectible Accounts. Vouchers Payable.. ENCumbrances Owtstanding. Fund Balance.. $33.600 25,400 $5,900 15,500 2500 42,000 16,000 8,100 $74,500 $74.500 (Because interest and penalties on taxes are not material, they are not accrued The following transactions took place during 20X1: I. The budget for the year was adopted. Revenues were estimated at $216000 appropriations of $229,000 were made, including an appropriation of S16,000 for materials ordered in 20X0, covered by the Reserve for Encumbrances. 2. Delinquent taxes of $2,800 were declared uncollectible and written off 3. Property tares of $210,000 were levied: a 3percent allowance for estimated losses was provided 4. Uniforms estimated to cost S15,000 were ordered, as was a snowplow estimated to cost $3.500 The materials ordered in 20X0 and set up as an encumbrance of that year for S16,000 was received: the actual cost. $15.000, was vouchered for later payment 3. Collections were made as follows: Current Taxes 6. S182,000 8500 Delinguent Taxes Interest and Penalties on Taxes.. Accounts Receivable.. 200 7300 S198.000 Received a bill for $3,000 from the city central printing shop 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. 7. 8 9 The uniforms and snowplow (ordered in 4) were received: the invoices were for S16,000 and $3,800, respectively 10. Delinguemt taxes of S350, written off in preceding years, were collected. 11. Curent taxes receivable became delinquent. 12. Paid $200 to a Special Revenne Fund for supplies acquired for General Fumd 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 revenmes of $5,000 were collected, and $5,000 was received from a discontinued Capital Projects Fund Required: 1. Post the opening trial balance to T-accounts 2. Post (1-14) to T-accounts 3. Prepare preclosing trial balance at December 31, 20X 4. Prepare closing journal entries 5. Post (4 above) to T-accounts. 6. Prepare a pastclosing trial balance at December 31. 20XI Based on your solution to Problem above, prepare for the city of Lymnville General Fund (a) A statement of revenues, expenditures, and changes in fnd balances for the year ended December 31. 20X (b) A balance sheet at December 31 20X Not for Prof Assigament I Due 18 November 2015 The following is a trial balance of the General Fund of the city of Lymmville as of December 31, 20X0, after closing entries: Cash Taxes Receivable-Delinguent Allowance for Uncollectible Delingment Taxes Accomts Receivable.. Allowance for Uncollectible Accounts. Vouchers Payable.. ENCumbrances Owtstanding. Fund Balance.. $33.600 25,400 $5,900 15,500 2500 42,000 16,000 8,100 $74,500 $74.500 (Because interest and penalties on taxes are not material, they are not accrued The following transactions took place during 20X1: I. The budget for the year was adopted. Revenues were estimated at $216000 appropriations of $229,000 were made, including an appropriation of S16,000 for materials ordered in 20X0, covered by the Reserve for Encumbrances. 2. Delinquent taxes of $2,800 were declared uncollectible and written off 3. Property tares of $210,000 were levied: a 3percent allowance for estimated losses was provided 4. Uniforms estimated to cost S15,000 were ordered, as was a snowplow estimated to cost $3.500 The materials ordered in 20X0 and set up as an encumbrance of that year for S16,000 was received: the actual cost. $15.000, was vouchered for later payment 3. Collections were made as follows: Current Taxes 6. S182,000 8500 Delinguent Taxes Interest and Penalties on Taxes.. Accounts Receivable.. 200 7300 S198.000 Received a bill for $3,000 from the city central printing shop 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. 7. 8 9 The uniforms and snowplow (ordered in 4) were received: the invoices were for S16,000 and $3,800, respectively 10. Delinguemt taxes of S350, written off in preceding years, were collected. 11. Curent taxes receivable became delinquent. 12. Paid $200 to a Special Revenne Fund for supplies acquired for General Fumd 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 revenmes of $5,000 were collected, and $5,000 was received from a discontinued Capital Projects Fund Required: 1. Post the opening trial balance to T-accounts 2. Post (1-14) to T-accounts 3. Prepare preclosing trial balance at December 31, 20X 4. Prepare closing journal entries 5. Post (4 above) to T-accounts. 6. Prepare a pastclosing trial balance at December 31. 20XI Based on your solution to Problem above, prepare for the city of Lymnville General Fund (a) A statement of revenues, expenditures, and changes in fnd balances for the year ended December 31. 20X (b) A balance sheet at December 31 20X