Exercise 4-22 (Static) Preparing Statements from Revenue and Appropriations Ledgers [LO4-1, 4-2, LO4-3]

The finance director for the City of Green Falls printed the General Fund Revenues and Appropriations Ledgers shown below for the year just ended.

The beginning-of-the-year fund balance was $158,260. Estimated and actual Other Financing UsesInterfund Transfers Out totaled $50,000. Required:

A) From the ledger detail, reproduce the summary journal entries recorded in the General Fund general journal to close the operating statement and budgetary accounts at the end of the year.

B) What are the amounts of encumbrances outstanding at year-end?

C) Prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of the City of Green Falls for the prior year.

D) Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year.

Please answer using an Excel sheet format and explain which ledger you got your numbers from, thanks.

From the ledger detail, reproduce the summary journal entries recorded in the General Fund general journal to close the operating stateme and budgetary accounts at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the firs account field.) What are the amounts of encumbrances outstanding at year-end? Prepare a statement of revenues, expenditures, and changes in fund baland for the prior year. Expenditures \begin{tabular}{|l|r|r|} \hline General Government & $1,817,676 & \\ \hline Public Safety & 3,481,644 & \\ \hline Public Works & 1,682,471 & \\ \hline Health and Welfare & 1,011,678 & \\ \hline Culture and Recreation & 1,025,864 & \\ \hline Miscellaneous & 108,000 & \\ \hline & & \\ \hline Total Expenditures & & 9,127,333 \\ \hline Excess of Revenues over Expenditures & & 121,042 \\ \hline Other Financing Sources (Uses) & 50,000 & \\ \hline Interfund Transfers Out & & \\ \hline & & 50,000 \\ \hline Total Other FInancing Sources (Uses) & & 158,260 \\ \hline Increase in Fund Balances & & 158,260 \\ \hline Fund Balances, January 1 & & $ \\ \hline Fund Balances, December 31 & & \\ \hline \end{tabular} \begin{tabular}{|l||l||l||l} \hline Required A & Required B & Required C & Required D \\ \hline \end{tabular} Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year. CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended Expenditures From the ledger detail, reproduce the summary journal entries recorded in the General Fund general journal to close the operating stateme and budgetary accounts at the end of the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the firs account field.) What are the amounts of encumbrances outstanding at year-end? Prepare a statement of revenues, expenditures, and changes in fund baland for the prior year. Expenditures \begin{tabular}{|l|r|r|} \hline General Government & $1,817,676 & \\ \hline Public Safety & 3,481,644 & \\ \hline Public Works & 1,682,471 & \\ \hline Health and Welfare & 1,011,678 & \\ \hline Culture and Recreation & 1,025,864 & \\ \hline Miscellaneous & 108,000 & \\ \hline & & \\ \hline Total Expenditures & & 9,127,333 \\ \hline Excess of Revenues over Expenditures & & 121,042 \\ \hline Other Financing Sources (Uses) & 50,000 & \\ \hline Interfund Transfers Out & & \\ \hline & & 50,000 \\ \hline Total Other FInancing Sources (Uses) & & 158,260 \\ \hline Increase in Fund Balances & & 158,260 \\ \hline Fund Balances, January 1 & & $ \\ \hline Fund Balances, December 31 & & \\ \hline \end{tabular} \begin{tabular}{|l||l||l||l} \hline Required A & Required B & Required C & Required D \\ \hline \end{tabular} Prepare a budgetary comparison schedule for the General Fund of the City of Green Falls for the prior year. CITY OF GREEN FALLS General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended Expenditures