• Your have been provided with the adopted budget, as well as the preclosing trial balance, of the revenues and expenditures subsidiary ledgers at year-end.Download the adopted budget and preclosing trial balancehere.
• Note that the only encumbrances outstanding at year-end were $15,000 for unperformed contracts in community development.
• The beginning fund balance was $75,000.
• Prepare the closing entries for the general ledger accounts and the subsidiary ledgers of the Village of AIU general fund.
• Prepare the statement of revenues, expenditures, and changes in fund balance?budget and actual?for the Village of AIU General Fund for the 20X9 fiscal year.

8:54 PM (CDT) Unit 4 - Group Project Assignment Overview Go To: Type: Group Project Unit: Not-for-profit and Governmental Statements Due Date: Tue, 10/24/17 Grading Type: Numeric Points Possible: 250 Points Earned: 0 Deliverable Length: 2-3 pages Assignment Details Learning Materials Reading Assignment My Work: Online Deliverables: Submissions, Discussion Board, Group Live Chat Assignment Details My Group: Group 2 Email Group Group Member Contact Group Work Submissions Mayer, Theresa theresa.mayer@student.aiuonline.edu No submissions Abu Smeiha Almanasir, Mohd mohd.almanasir@my.houston.aiuniv.edu No submissions Assignment Description Individual Portion Your team has been hired as the accountants for the Village of AIU. Your team is being asked to do the following: Your team is provided with the adopted budget, as well as the preclosing trial balance, of the revenues and expenditures subsidiary ledgers at year-end. Download the adopted budget and preclosing trial balance here. Note that the only encumbrances outstanding at year-end were $15,000 for unperformed contracts in community development. The beginning fund balance was $75,000. Prepare the closing entries for the general ledger accounts and the subsidiary ledgers of the Village of AIU general fund. Prepare the statement of revenues, expenditures, and changes in fund balancebudget and actualfor the Village of AIU General Fund for the 20X9 fiscal year. Work as a team to define an approach for producing the deliverables for this assignment. Assign individual work to each team member. Please add your file. Group Portion As individual work is completed, meet as a team to discuss and review the individual deliverables to ensure that they are correct before submitting the group document. Work as a team to decide how to assemble and submit the final deliverables. Please add your file. Grading Criteria Prepare the closing entries. 32% Prepare the statement of revenues, expenditures, and changes in fund balance 48% budget and actual. You will be graded on your ability to work as a team, as evidenced from postings in the group project Discussion Board. 10% Use proper formatting for the assignment and references. 10% For assistance with your assignment, please use your text, Web resources, and all course materials. Reading Assignment Wilson, Reck, & Kattelus: Chapter 4. NOTE: Your text for this course will also be used in ACCT680 and ACCT685. Please keep your text to use in these courses. Assignment Objectives Demonstrate an understanding of governmental and not-for-profit accounting and financial statements Analyze transactions unique to governmental and not-for-profit entities to determine potential outcomes Other Information Other Information There is no additional information to display at this time. Legend Extra Credit View Assignment Rubric Privacy Policy Terms of Use About Our Ads 2017 American InterContinental University. All Rights Reserved. Authorized Users Only