Presented on the following page is the Preclosing Trial Balance for the City of Savannah, Georgias General

Presented on the following page is the Preclosing Trial Balance for the City of Savannah, Georgia’s General Fund as of December 31, 20X6 (with amounts in thousands). Assume the following:

• Outstanding encumbrances as of December 31, 20X6, all related to activities financed from resources available for general purposes, are $1,157.
• Receivables are reported at net amounts on the balance sheet.

Required
Prepare the City of Savannah, Georgia, Balance Sheet at December 31, 20X6, and its 20X6 Statement of Revenues, Expenditures and Changes in Fund Balances. The City has taken the formal action required to commit $500 to economic development activities.
This case was based on the information in a recent Comprehensive Annual Financial Report for the City of Savannah,Georgia.

Transcribed Image Text:

City of Savannah, Georgia General Fund Preclosing Trial Balance December 31,20X6 (in thousands) Debit Credit 59,800 3,467 14,849 Restricted cash and investments.. . . s receivable . . . . Allowance for uncollectible accounts.., S 707 2,671 40 3,260 1,896 42,813 3,467 8,778 18,072 65,163 47082 7691 746 1,442 2,941 2,438 22,745 3,854 2,691 1,082 able. Due to other funds.. Escrow deposits payable Deferred revenue Business tax revenue Penalties/interest on delinquent taxes. . Licenses/permits revenue. . Charges for services. … 2,394 General administration expenditures. Management and financial services . . . 7994 20,923 52,370 1,934 19,378 12,877 2,034 5,349 14,103 expenditures . sure se nditureS .-. Social and cultural expenditures. 5,562 Transters in Transfers out....