The following account balances, among others, were included in the preclosing trial balance of the General Fund of the City of Lynchburg on December 31, 2021.

Estimated Revenue  .................................................................................    $630,000

Expenditures  ...........................................................................................      468,000

Encumbrances  ........................................................................................      120,000

Expenditures—2020  ...............................................................................       43,000

Supplies Inventory (Note 2)  ...................................................................       72,000

Appropriations  .......................................................................................      672,000

Revenue  ...................................................................................................     696,000

Fund Balance—Assigned (for Encumbrances, Note 1) ........................    162,000

Fund Balance—Nonspendable (Supplies Inventory, Note 2) ..............      72,000

Fund Balance—Unassigned .....................................................................     24,000

Note 1: The balance in this account was $42,000 on January 1, 2021.

Purchase orders outstanding on December 31, 2021, total $120,000.

Note 2: Supplies on hand on December 31, 2021, amount to $60,000.

Required:

A. What was the balance in the Fund Balance—Unassigned account on December 31, 2020? What was the total Fund Balance on December 31, 2020?

B. Prepare the necessary adjusting and closing entries for the year ended December 31, 2021. Supplies inventory is accounted for using the purchases method.

C. Prepare a schedule to calculate the Fund Balance—Unassigned and the total Fund Balance on December 31, 2021.