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Question(s) / Instruction(s):

49.     (Preparation of governmental funds financial statements)

Following are December 31, 2008 pre-closing trial balances (budgetary accounts excluded) for the General Fund, Debt Service Fund, and Capital Projects Fund for Hebert County. Prepare a governmental funds balance sheet and a statement of revenues, expenditures, and changes in fund balances as of and for the year ended December 31, 2008. The only fund balance reservations at December 31, 2008 are General Fund encumbrances of $25 and Capital Projects Funds encumbrances of $75. (All amounts are in thousands of dollars.)

     Debits     Credits
General Fund
Cash               $1,900
Property taxes receivable - delinquent     330
Allowance for uncollectible property taxes          $ 10
Accounts payable          120
Deferred revenues          250
Fund balance, January 1, 2008          1,720
Revenues - property taxes          3,200
Revenues - licenses and fees          350
Revenues - parks admissions fees          40
Investment income          220
Expenditures - general government     360
Expenditures - public safety     1,800
Expenditures - public works     840
Expenditures - parks and culture     350
Transfer out to Debt Service Fund     250
Transfer out to Capital Projects Fund      80     ____               Totals          $5,910     $5,910
Debt Service Fund
Cash               $70
Fund balance, January 1          $60
Expenditures - bond principal     110
Expenditures - bond interest     130
Transfer in from General Fund     ___     250
Totals          $310     $310
Capital Projects Fund
Cash               $240
Expenditures - capital outlay     420
Transfer in from General Fund          $80
Proceeds of bonds     ___     580
Totals                    $660     $660

 


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