Question

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.


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  • CreatedOctober 25, 2014
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