Question

Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. Do not close the governmental activities accounts. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Debit Credit Transactions Fund General Journal 1. Record the closure of budgetary statements account General Fund Appropriations Estimated Revenues Budgetary Fund Balance 3,119,000 2. Record the closure of operating statements account. General Fund Revenues Expenditures Fund Balance-Unassigned

Answer 1

Balance Statment of Revenu CITY OF CASTLETON General Fund t of Revenues, Expenditures and changes in fund For the year ended Jun 30, 20do Revenus Tanes 3160000 28905 9635 Intrest and Penalbes on tan other sources Total Revenues 13198540 |3119000 Expenditures Salaries and images Intrest on Note payable other 3419000 179540 Total Expenditure Eneees of Revenues over Expendelne Increase in Inventory of supplies Fund Balance, july 1 2019 Fund Balance, Jane 302020 24670 104210 Tio Record the closure of Budgetary statments accounts Genual Fund Appropriations 3119000 Estimated Revenue Budgetary Fund Balames 3078453 40547 90

eco 298000 City of Castleton General Fund Balance sheet - As of June 30, 2020 Assets cash Tanes Receivable - Delinquent Less: Allowance for Uncallectible Tanes-Delingurf 299120 Intrest and penalties Receivable Less: Allowance for Uncollectible bootrest and 111260 Penalties 584000 284880 126380 15120 16200 .614200 14 9500 60490 300000 Due to be destal gout Denus Inverstory of supplies Total Assets Liabilities And Fund Balances Vouchers playable Deffered in flow & Resources-Unavaliable 0 Revenues Total Liabilities and deferred in flow of Resources A Fund Balances: Non spendable Inventory of supplies Um assigned Total Fund Balances. (B) The Liabilles and And Balances 14 49500 16200 88010 104210 Total Lam (A+B) 6142000