Greenville has provided the following information from its General Fund Revenues and Appropriations/ Expenditure/Encumbrances subsidiary ledgers for

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Greenville has provided the following information from its General Fund Revenues and Appropriations/ Expenditure/Encumbrances subsidiary ledgers for the fiscal year ended. Assume the beginning fund balances are $152 (in thousands) and that the budget was not amended during the year.City of Greenville General Fund Subsidiary Ledger Account Balances (in thousands) For the Fiscal Year Debits Credits Est


Required
a. Prepare a General Fund statement of revenues, expenditures, and changes in fund balance.
b. Prepare a General Fund schedule of revenues, expenditures, and changes in fund balance€”budget and actual (assume the budget is prepared on a GAAP basis).

GAAP
Generally Accepted Accounting Principles (GAAP) is the accounting standard adopted by the U.S. Securities and Exchange Commission (SEC). While the SEC previously stated that it intends to move from U.S. GAAP to the International Financial Reporting Standards (IFRS), the...
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Accounting for Governmental and Nonprofit Entities

ISBN: 978-1259917059

18th edition

Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely

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