Verify the accuracy of all your preceding entries in the Street ImprovementFund and governmental activities general journals, then click [Post Entries] of each entity to post the entries to the respective general ledgers. For the Street Improvement Fund only, prepare year-end closing entries for 2017 and post them to the funds general ledger. Accounts should be closed to Fund BalanceRestricted. (Note: You must click on the box for [Closing Entry] to check mark it;Closing Entry will appear in the [Transaction Description] box for the account being closed. Be sure the check mark is present for each account being closed.) Click [Post Entries] to post the closing entry. Cash remaining in the Street Improvement Fund at year-end is not transferred to the debt service fund since other street improvement projects will be undertaken during the next two years. Closing entries will be made in the governmental activities general journal in Chapter 9 of this cumulative problem. Ignore those entries for now.

c. Export the post-closing trial balance for year 2017 to an Excel worksheet and use Excel to prepare a balance sheet for the Street Improvement Fund as of December 31, 2017. (See Illustration 4-3 in the textbook for an example of an appropriate format of a governmental fund balance sheet.) In addition, save and print the post-closing trial balance from the [Reports] drop-down menu.

d. Export the pre-closing trial balance for year 2017 to an Excel worksheet and use Excel to prepare a statement of revenues, expenditures, and changes in fund balance for the Street Improvement Fund for the year ended December 31, 2017. (See Illustration 5-3 in textbook for an example of the format of a capital projects fund statement of revenues, expenditures and changes in fund balance.) Save and print the pre-closing trial balance from the [Reports] drop-down menu.

City of Smithville
General Fund
Post-Closing Trial Balance
For year 2017
		Debits	Credits
Cash		$546,802
Taxes ReceivableCurrent			$230,535
Taxes ReceivableDelinquent		23,906
Allowance for Uncollectible Delinquent Taxes			109,730
Interest and Penalties Receivable on Taxes		16,840
Allowance for Uncollectible Interest and Penalties			15,226
Due From State Government		115,000
Vouchers Payable		666,473
Due to Other Funds			2,614,777
Due to Federal Government			8,850
Due to State Government			3,413
Fund BalanceRestrictedGeneral Government		2,100,000
Fund BalanceRestrictedPublic Safety		21,000
Fund BalanceCommittedGeneral Government		30,000
Fund BalanceCommittedPublic Works			17,000
Fund BalanceAssignedCulture and Recreation			56,800
Fund BalanceUnassigned			351,623
Budgetary Fund Balance			35,570
Encumbrances Outstanding			35,280
Estimated Revenues		3,209,070
Revenues			3,341,864
Appropriations			3,247,200
Expenditures		3,303,497
Encumbrances		35,280
Totals for all accounts		$10,067,868	$10,067,868

City of Smithville
General Fund
Pre-Closing Trial Balance
For year 2017
		Debits	Credits
Cash		$546,802
Taxes ReceivableCurrent			$230,535
Taxes ReceivableDelinquent		23,906
Allowance for Uncollectible Delinquent Taxes			109,730
Interest and Penalties Receivable on Taxes		16,840
Allowance for Uncollectible Interest and Penalties			15,226
Due From State Government		115,000
Vouchers Payable		666,473
Due to Other Funds			2,614,777
Due to Federal Government			8,850
Due to State Government			3,413
Fund BalanceRestrictedPublic Safety			15,000
Fund BalanceCommittedPublic Works			29,700
Fund BalanceAssignedCulture and Recreation			56,800
Fund BalanceUnassigned			351,623
Budgetary Fund Balance		43,130
Encumbrances Outstanding			35,280
Estimated Revenues		3,209,070
Revenues			3,341,864
Appropriations			3,247,200
Expenditures		5,403,497
Encumbrances		35,280
Totals for all accounts		$10,059,998	$10,059,998