Following is the December 31, 2013, trial balance for Radnor City’s General Fund. Based on this information, prepare (a) a statement of revenues, expenditures, and changes in fund balance, (b) a balance sheet, and (c) a budgetary comparison schedule. Classify the fund balance as Unassigned. Then, examine the budgetary comparison schedule, and write a short paragraph explaining the results of the year’s operations in relation to thebudget.
Answer to relevant QuestionsThe following transactions and events pertain to Bean County’s General Fund for the calendar year 2013. Prepare the journal entries needed to record the transactions and events (including year- end accruals where ...What is the basic rule for recognizing intergovernmental grant revenues in governmental- type funds? How are open encumbrances at year- end reported in the financial statements?Harmon School District accounts for all activities in its General Fund. The school district receives the following grants: 1. Grant A: Harmon is reimbursed by the state for costs incurred in teaching students with ...At the start of calendar year 2012, Central City’s records showed the following accounts relative to prior year property taxes: Property taxes— delinquent............ 52,000 Allowance for uncollectible taxes— ...
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