Exercise $4-27($Algo$)$ Operating Transactions and Financial Statements $[$LO $4-1,4-2,4-3]$

The City of Castleton's General Fund had the following post$-$closing trial balance at June $30,2022,$ the end of its fiscal year:

a$.$ Record the effect of the following transactions on the General Fund and governmental activities for the year ended June $30,2023.$

b$.$ Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only.

c$.$ Prepare a General Fund balance sheet as of June $30,2023.$

d$.$ Prepare a General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June $30,2023.$

Complete this question by entering your answers in the tabs below.

Record the effect of the following transactions on the General Fund and governmental activities for the year ended June $30,2023.$ Avoid use of functional details for expenses and itemization of revenue accounts. So$,$ use of account names "Expenses" and "Revenues" will suffice wherever required. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$ Prepare a General Fund balance sheet as of June $30,2023.$ Record in general journal form entries to close the budgetary and operating statement accounts in the General Fund only. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)\backslash$begin$\{$tabular$\}\{|$l$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{2\}\{|$c$|\}\{\backslash$begin$\{$tabular$\}\{$c$\}$

CITY OF CASTLETON $\backslash \backslash$

General Fund $\backslash \backslash$

For the Year Ended June $30,2023\backslash \backslash$

Fund Balance

$\backslash$end$\{$tabular$\}\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{2\}\{|$c$|\}\{$ Revenues $\}\backslash \backslash$

$\backslash$hline Taxes & $\backslash \backslash$

$\backslash$hline Interest and Penalties on Taxes & $\backslash \backslash$

$\backslash$hline Other Sources & $\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{2\}\{|$c$|\}\{$ Total Revenues $\}\backslash \backslash$

$\backslash$hline Expenditures & $\backslash \backslash$

$\backslash$hline Salaries and Wages & $\backslash \backslash$

$\backslash$hline Interest on Notes Payable & $\backslash \backslash$

$\backslash$hline Other & $\backslash (\backslash$$ $\backslash )\backslash \backslash$

$\backslash$hline Total Expenditures & $0\backslash \backslash$

$\backslash$hline Excess of Revenues over Expenditures & $109,000\backslash \backslash$

$\backslash$hline Other Financing Uses & $-109000\backslash \backslash$

$\backslash$hline Change In Fund Balance & $3,100\backslash \backslash$

$\backslash$hline Increase in Inventory of Supplies & $\backslash \backslash$

$\backslash$hline Fund Balances, July $1,2022$ & $\backslash (\backslash$$ $105,900)\backslash )\backslash \backslash$

$\backslash$hline Fund Balances, June $30,2023$ & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$