Make separate balance sheets for each of the four funds in 16-40 using financial statement or columnar form. No totals column is needed but Fund balance categories should be displayed.

  

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40. The following unadjusted trial balances are for the governmental funds of the City of Copeland. Page 787 General Fund Debit Credit Cash $ 19,000 Taxes Receivable 202,000 Allowance for Uncollectible Taxes $ 2,000 Vouchers Payable 24,000 Due to Debt Service Fund 10,000 Unavailable Revenues 16,000 Encumbrances Outstanding 9,000 Fund Balance-Unassigned 103,000 Revenues 176,000 Expenditures 110,000 Encumbrances 9,000 Estimated Revenues 190,000 Appropriations 171,000 Budgetary Fund Balance 19,000 Totals $530,000 $530,000 Debt Service Fund Debit Credit Cash $ 8,000 Investments 51,000 Taxes Receivable 11,000 Due from General Fund 10,000 Fund Balance-Committed $ 45,000 Revenues 20,000 40. The following unadjusted trial balances are for the governmental funds of the City of Copeland. Page 787 General Fund Debit Credit Cash $ 19,000 Taxes Receivable 202,000 Allowance for Uncollectible Taxes $ 2,000 Vouchers Payable 24,000 Due to Debt Service Fund 10,000 Unavailable Revenues 16,000 Encumbrances Outstanding 9,000 Fund Balance-Unassigned 103,000 Revenues 176,000 Expenditures 110,000 Encumbrances 9,000 Estimated Revenues 190,000 Appropriations 171,000 Budgetary Fund Balance 19,000 Totals $530,000 $530,000 Debt Service Fund Debit Credit Cash $ 8,000 Investments 51,000 Taxes Receivable 11,000 Due from General Fund 10,000 Fund Balance-Committed $ 45,000 Revenues 20,000

Answer rating: 100% (QA)

Answer a As the Appropriations account balance in the General Fund shows a total of 171000 that amount of money has been authorized for expenditure during this fiscal period Thus only that total can b... View the full answer