The pre-closing, year-end trial balance for a capital projects fund of the city of Clark as of December 31, 2019, follows:

Required
1. Prepare closing entries as of December 31, 2019, assuming that all inflows and outflows are designated assigned.
2. Prepare the year-end statement of revenues, expenditures, and changes in fund balance for this project that began on January 2, 2019.
3. Prepare the balance sheet for this project as of December 31, 2019.

Transcribed Image Text:

Debit Credit 75,000 200,000 ash .. Investments 60,000 16,600 900,000 686,600 15,000 80,000 Encumbrances. Fund Balance-Assigned 80,000 20,000 950,000 640,000 25,000 305,000 2,026,600 2,026,600 Estimated Other Financing Uses . . . . .. . . . . . . .. . . Totals