The following adjusted trial balance is taken from the General Fund of Align City for the...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following adjusted trial balance is taken from the General Fund of Align City for the year ended June 30. Prepare a (post-closing) Balance sheet in good form. Allowance for uncollectible taxes Cash Due from capital projects fund Due to debt service fund Encumbrances Encumbrances outstanding Expenditures Fund Balance, nonspendable Fund Balance, unassigned Inventory of supplies Other financing sources - bond proceeds Other financing uses -- transfers out Revenues Taxes receivable Unearned (unavailable) grant revenues Vouchers payable 5,000 126,000 32,000 19,000 21,000 21,000 60,000 8,000 14,000 8,000 17,000 11,000 133,000 25,000 43,000 23,000 The following adjusted trial balance is taken from the General Fund of Align City for the year ended June 30. Prepare a (post-closing) Balance sheet in good form. Allowance for uncollectible taxes Cash Due from capital projects fund Due to debt service fund Encumbrances Encumbrances outstanding Expenditures Fund Balance, nonspendable Fund Balance, unassigned Inventory of supplies Other financing sources - bond proceeds Other financing uses -- transfers out Revenues Taxes receivable Unearned (unavailable) grant revenues Vouchers payable 5,000 126,000 32,000 19,000 21,000 21,000 60,000 8,000 14,000 8,000 17,000 11,000 133,000 25,000 43,000 23,000
Expert Answer:
Answer rating: 100% (QA)
Post closing trial balance Particulars Debit Credit Cash 126000 Allowance for uncollectible taxes 50... View the full answer
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date:
Students also viewed these accounting questions
-
The following trial balance is taken from the General Fund of the City of Jennings for the year ending December 31, 2010. Prepare a condensed statement of revenues, expenditures, and other changes in...
-
The following adjusted trial balance of Schneider Consulting, Inc. was prepared for the year ended December 31, 2009. Required: (a) Prepare an income statement for the year ended December 31, 2009....
-
The following adjusted trial balance for Bell Servicing was prepared at the end of the fiscal year, December 31, 2014: Required 1. Prepare a classified multiple-step income statement that would be...
-
Which of the following would be the most frequently occurring daily transaction in a retail shop? (a) Paying salary to the sales assistant (b) Sale of goods (c) Payment of rent for the shop premises...
-
Suppose that a companys sales were $ 5,000,000 three years ago. Since that time sales have grown at annual rates of 10 percent, 10 percent, and 25 percent. a. Find the geometric mean growth rate of...
-
How does the earned income credit produce a "negative" income tax?
-
Describe effective hiring practices and the importance of clear communications.
-
A shop sign weighing 245 N is supported by a uniform 155-N beam as shown in Fig. 9-54. Find the tension in the guy wire and the horizontal and vertical forces exerted by the hinge on the beam. 35.0...
-
Pore Networks in Membranes. (20 pts) Consider two membranes below, with equal void space, but differently configured. The membrane on the left consists of a narrow and a wide pore in parallel, while...
-
A two-phase liquid-vapor mixture of H2O with an initial quality of 25% is contained in a piston-cylinder assembly. The mass of the piston is 40 kg, and its diameter is 10 cm. The atmospheric pressure...
-
Ten children wait to get their gift. Each child gets its turn[i] by computing a number[i]. A clown has in his hat ten balls; each ball has a unique number, from one to ten. After all children have...
-
Why did Vendors have figured out that small amounts of storage on a device encourages consumers to pay for cloud storage. As MS365 users we all have 1TB of One Drive storage so we don't need to pay...
-
When do you think the customer or sponsor should add more funds to cover unanticipated costs of the project? When should the vendor absorb the increase in cost? What factors should be considered?
-
What questions (minimum of 6 with rational and thorough justification) should the BOD of Directors, the EC, the Risk Committee, and/or the Audit Committee have been asking each other, the CEO and...
-
Social science research has yet to document how newer forms of social media (i.e., platforms that have gained popularity within the last five or so years) have impacted romantic relationships. What...
-
What are the 10 leadership styles? construct open-ended questions for an executive, the questions should be best suited for each of the 10 leadership styles, for a total of 30 questions. Describe why...
-
Find a dfa that accepts the language defined by the nfa in Figure 2. 90 a 91 94 a 92 95 93
-
r = 0.18 Find the coefficients of determination and non-determination and explain the meaning of each.
-
Why is the allocation of the income tax expense figure between the members of a business combination important? By what methods can this allocation be made?
-
In 2010, the City of Coyote received a $320,000 cash grant from the state to stop air pollution. Assume that although a special revenue fund could have been set up, the money remained in the General...
-
What is the consolidated total of non-controlling interest appearing on the balance sheet? a. $85,500. b. $83,100. c. $87,000. d. $70,500. Use the following data for problem On January 1, Jarel...
-
Baggai Enterprises has an ROA of 10 percent, retains 30 percent of earnings, and has an equity multiplier of 1.25. Mondale Enterprises also has an ROA of 10 percent, but it retains two-thirds of...
-
International Business Machines (NYSE: IBM), which currently pays a dividend of \($3.40\) per share, has been the subject of two other examples in this reading. In one example, an analyst estimated...
-
An analyst is preparing a forecast of dividends for Hoshino Distributors for the next five years. He uses a spreadsheet model with the following assumptions: Sales are $100 million in Year 1. They...
Study smarter with the SolutionInn App