The January 1, 2012, trial balance, the calendar-year 2012 budget, and the 2012 transactions of the City of Roseburg are presented here:

City of Roseburg
Budget for General Fund
Calendar Year 2012
Estimated Revenue
City vehicle and retail license fees.........$ 252,000
Property taxes..................1,448,000
City sales tax..................327,000
Collections for trash service...........153,000
Sale of city-owned property..........88,000
Total estimated revenue..............2,268,000
Appropriations
General government..................261,000
Public safety and security..............875,000
Health and welfare..................434,000
Recreation and parks..................126,000
Street maintenance..................367,000
Sanitation...................162,000
Total appropriations..................2,225,000
Excess of Revenues over Appropriations.........43,000
Transfer from Water and Sewer Fund.........118,000
Less Payments (transfers) to Debt Service Funds....(55,000)
Excess of Revenue and Fund Transfers to
General Fund over Appropriations and Fund
Transfers out of General Fund...........$ 106,000
Transactions of the City of Roseburg that affected the General Fund during the year are summarized below:
1. The City Council approved the budget and it was recorded.
2. Orders for goods and services were issued for a total of $1,202,000 during the year.
3. Goods and services were delivered against all orders placed with a total invoice amount of
$1,165,600. Of this, $80,000 was for orders placed in the prior year.
4. The City accepted a low bid of $78,000 for a new street sweeper for the sanitation department. A purchase order was issued.
5. The City received $92,500 from the sale of an old street sweeper and one obsolete fire engine at public auction. The street sweeper cost $60,000 7 years ago, at which time it was estimated to have a useful life of 10 years. The fire engine cost $200,000 8 years ago, at which time it was estimated to have a useful life of 12 years.
6. Property tax statements were issued. The tax levy was 8% of the assessed valuation of
$18,500,000. An estimated 2% of the tax levy will be uncollectible.
7. Payment was received from the federal government. This was a grant to be used for up grading sanitation department equipment.
8. The amount of $55,000 was transferred to the Debt Service Fund for the payment of interest on the outstanding bond issue.
9. The city billed residents for trash service. Total billings amounted to $155,675.
10. Property taxes totaling $1,438,455 were collected, of which $34,200 was past-due collections from the prior year; $18,250 of past-due taxes was charged off as uncollectible.
11. Wages paid to employees during the year amounted to $998,765.
12. City retail establishments remitted a total of $333,650 in sales tax collections for the year.
13. Other cash receipts during the year were:
Vehicle license fees and parking fines...........$ 98,682
Retail license fees...................130,000
For trash services (including $28,675 due at end of prior year).148,720
Transfer from Water and Sewer Fund...........118,000
14. Cash purchases of printed forms and other office supplies for the year amounted to $57,680.
15. The street sweeper was delivered and an invoice for $78,000 plus freight charges of $1,280 was received. The invoice was approved for payment and a check issued.
16. Checks were issued in payment of outstanding vouchers totaling $1,207,100.
17. End-of-year activities: (adjustments) Supplies Inventory 12/31/12: $38,250 Accrued interest on CDs at 5% The city uses the purchases method to account for supplies expenditures.

Required:
A. Enter the opening trial balance data in t-accounts.
B. Prepare journal entries for the year's transactions. Do not include entries for year-end adjustments. Post entries to t-accounts.
C. Prepare a preclosing trial balance.
D. Prepare journal entries to adjust the Supplies Inventory and record the interest on the CDs.
E. Prepare journal entries to close the revenue, expenditures, and encumbrance accounts.
F. Prepare a comparative balance sheet for 2011-2012.
G. Prepare a statement of revenues, expenditures, and changes in fund balance for2012.

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City of Roseburg Trial Balance January 1, 2012 Delit Credit Cash Certificates of Deposit Accounts Receivable Supplied Inventory Due from Federal Government Property Taxes Receivable Allowance for Uncollectible Taxes Vouchers Payable Unreserved Fund Balance Reserve for Inventory Reserve for Encumbrances $155,450 200,000 28,675 37,600 58,000 75,600 $32,150 181,000 226,075 37,600 78,500 555,325