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Question(s) / Instruction(s):

29. (Preparing closing entries and financial statements)

Presented below is the adjusted trial balance for the General Fund of the Township of Sean’s Haven at June 30, 2009, the end of the fiscal year. Based on this information, prepare, in good form: a. closing entries b. the statement of revenues, expenditures, and changes in fund balance for the year c. the balance sheet at June 30, 2009.

Township of Sean’s Haven General Fund Adjusted Trial Balance June 30, 2009

Cash $ 6,200

Taxes receivable 40,000

Investments 65,000

Vouchers payable 38,750

Tax anticipation notes payable 12,750

Unreserved fund balance 57,000

Estimated revenues 101,000

Appropriations 99,000

Budgetary fund balance 2,000

Revenues-taxes 100,000

Revenues-other 2,080

Expenditures-personal services 94,700

Expenditures-supplies 4,680 0 $ 311,580 $ 311,580

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