Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 26 Sep 2017 My Price 10.00

Millar City

Preparation of fund balance sheet

A general ledger trial balance at June 30, 2011, for Millar City is as follows:

 

Debits

Credits

Cash

$ 12,000

—

Taxes receivable

30,000

—

Allowance for uncollectible taxes

—

$ 2,000

Due from other funds

3,000

—

Supplies inventory, June 30, 2011

4,000

—

Estimated revenues

300,000

—

Expenditures

290,000

—

Expenditures—prior year

5,000

—

Encumbrances

6,000

—

Vouchers payable

—

13,000

Due to other funds

—

5,000

Reserve for encumbrances

—

6,000

Reserve for encumbrances—prior year

—

5,000

Fund balance—nonspendable

—

4,000

Fund balance—unassigned

—

10,000

Appropriations

—

300,000

Revenues

—

305,000
 

$650,000

$650,000

Millar City uses a purchases basis in accounting for supplies. Open encumbrances are considered constrained by the highest decision-making level of the city.

REQUIRED: Prepare a fund balance sheet as of June 30, 2011.

Answers

Maurice Tutor
(5)
Status NEW Posted 26 Sep 2017 05:09 PM My Price 10.00

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