The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020 Beginning balances were Cash, $106,000 Taxes Receivable, $209,000 Accounts Payable, $62,000 and Fund Balance, $253,000 The budget was passed Estimated revenues amounted to $1,360,000 and appropriations totaled $1,354,800 All expenditures are classified as General Government Property taxes were levied in the amount of $980,000 All of the taxes are expected to be collected before February 2021 Cash receipts totaled $950,000 for property taxes and $330,000 from other revenue Contracts were issued for contracted services in the amount of $118,000 Contracted services were performed relating to $105,000 of the contracts with invoices amounting to $100,800 Other expenditures amounted to $1,022,000 Accounts payable were paid in the amount of $1,179,500 The books were closed Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund CITY OF BUFFALO FALLS GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues Total Revenues Expenditures Current Total Expenditures Other Financing Sources (Uses) Total Other Financing Sources (Uses) Net Change in Fund Balance Fund Balance, January 1 Fund Balance, December 31

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The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: Beginning balances were: Cash,

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

Beginning balances were: Cash, $106,000; Taxes Receivable, $209,000; Accounts Payable, $62,000; and Fund Balance, $253,000.
The budget was passed. Estimated revenues amounted to $1,360,000 and appropriations totaled $1,354,800. All expenditures are classified as General Government.
Property taxes were levied in the amount of $980,000. All of the taxes are expected to be collected before February 2021.
Cash receipts totaled $950,000 for property taxes and $330,000 from other revenue.
Contracts were issued for contracted services in the amount of $118,000.
Contracted services were performed relating to $105,000 of the contracts with invoices amounting to $100,800.
Other expenditures amounted to $1,022,000.
Accounts payable were paid in the amount of $1,179,500.
The books were closed.

Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund. image text in transcribed

CITY OF BUFFALO FALLS - GENERAL FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2020 Revenues: Total Revenues Expenditures: Current Total Expenditures Other Financing Sources (Uses) Total Other Financing Sources (Uses) Net Change in Fund Balance Fund Balance, January 1 Fund Balance, December 31