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The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31, 2020. Debit Credit Accounts
The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31, 2020.
Debit | Credit | |||||
Accounts Payable | $ | 90,000 | ||||
Cash | $ | 30,000 | ||||
Contracts Payable | 90,000 | |||||
Unavailable Revenues | 40,000 | |||||
Due from Capital Projects Funds | 60,000 | |||||
Due to Debt Service Funds | 40,000 | |||||
Expenditures | 530,000 | |||||
Fund BalanceUnassigned | 170,000 | |||||
Investments | 410,000 | |||||
Revenues | 760,000 | |||||
Other Financing SourcesBond Proceeds | 300,000 | |||||
Other Financing SourcesTransfers In | 50,000 | |||||
Other Financing UsesTransfers Out | 470,000 | |||||
Taxes Receivable | 220,000 | |||||
Vouchers Payable | 180,000 | |||||
Totals | $ | 1,720,000 | $ | 1,720,000 | ||
- Prepare a condensed statement of revenues, expenditures, and other changes in fund balance.
- Prepare a condensed balance sheet.
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