1. Export the post-closing trial balance for the year 2020 to an Excel worksheet and use Excel to prepare a balance sheet for the Street Improvement Fund as of December 31, 2020. (See Illustration 4-4 in the textbook for an example of an appropriate format of a governmental fund balance sheet.) In addition, save and print the post-closing trial balance from the [Reports] drop-down menu.

2. Export the pre-closing trial balance for year 2020 to an Excel worksheet and use Excel to prepare a statement of revenues, expenditures, and changes in fund balance for the Street Improvement Fund for the year ended December 31, 2020. (See Illustration 5-3 in textbook for an example of the format of a capital projects fund statement of revenues, expenditures and changes in fund balance.) Save and print the pre-closing trial balance from the [Reports] drop-down menu. 

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Governmental Activities, Governmental-Wide level Post-closing Trial Balance For year 2020 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due from State Government Land Infrastructure Accumulated Depreciation-Infrastructure Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Construction in Progress Vouchers Payable Due to Federal Government Due to State Government Deferred Serial Bonds Payable Premium on Deferred Serial Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted Program Revenues-General Government-Charges for Se Program Revenues-Public Safety-Operating Grants ar Program Revenues-Culture and Recreation-Charges fo Program Revenues-Culture and Recreation-Operating General Revenues-Taxes-Real Property General Revenues-Taxes-Sales General Revenues-Interest and Penalties on Taxes Expenses-General Government Expenses-Public Safety. Expenses-Public Works Expenses-Culture and Recreation. Expenses-Interest on Long-Term Debt Totals for all accounts Debits $530, 192 395, 049 5, 856 150, 000 4, 180, 000 17,674, 500 6, 296, 000 3, 589, 140 3, 248 794, 284 1,905, 390 652, 406 559, 802 $36, 735, 867 Credits $ 49, 326 6, 859 2, 713, 944 1,731, 000 1, 765, 480 5, 262, 500 334, 166 125, 210 6, 001 2,000,000 20, 000 17, 684, 376 519, 998 1, 032, 990 639, 000 281, 391 150, 000 1, 841, 126 560, 000 12, 500 $36, 735, 867 Governmental Activities, Governmental-Wide level Post-closing Trial Balance For year 2020 Cash Taxes Receivable-Delinquent Allowance for Uncollectible Delinquent Taxes Interest and Penalties Receivable on Taxes Allowance for Uncollectible Interest and Penalties Due from State Government Land Infrastructure Accumulated Depreciation-Infrastructure Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation-Equipment Construction in Progress Vouchers Payable Due to Federal Government Due to State Government Deferred Serial Bonds Payable Premium on Deferred Serial Bonds Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted Program Revenues-General Government-Charges for Se Program Revenues-Public Safety-Operating Grants ar Program Revenues-Culture and Recreation-Charges fo Program Revenues-Culture and Recreation-Operating General Revenues-Taxes-Real Property General Revenues-Taxes-Sales General Revenues-Interest and Penalties on Taxes Expenses-General Government Expenses-Public Safety. Expenses-Public Works Expenses-Culture and Recreation. Expenses-Interest on Long-Term Debt Totals for all accounts Debits $530, 192 395, 049 5, 856 150, 000 4, 180, 000 17,674, 500 6, 296, 000 3, 589, 140 3, 248 794, 284 1,905, 390 652, 406 559, 802 $36, 735, 867 Credits $ 49, 326 6, 859 2, 713, 944 1,731, 000 1, 765, 480 5, 262, 500 334, 166 125, 210 6, 001 2,000,000 20, 000 17, 684, 376 519, 998 1, 032, 990 639, 000 281, 391 150, 000 1, 841, 126 560, 000 12, 500 $36, 735, 867

Answer rating: 100% (QA)

1 To prepare a balance sheet for the Street Improvement Fund as of December 31 2020 2 T... View the full answer