The information below shows the unadjusted trial balance for the general fund of the Village of...

  

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The information below shows the unadjusted trial balance for the general fund of the Village of Stoneville as of December 31, 2021. + Accounts Debits Credits Cash 204,000 20,000 Property taxes receivable Vouchers payable 44,000 16,000 Accrued salaries payable Due to other governments Fund balance 14,000 275,000 1,082,000 Expenditures-general government Expenditures-public safety 1,649,000 246,000 Expenditures-economic development Expenditures-culture and recreation 140,000 Revenues-taxes 2,200,000 610,000 Revenues-permits and licenses Revenues-intergovernmental 144,000 38,000 2,240,000 600,000 Revenues-fines and forfeits Estimated revenues-taxes Estimated revenues-permits and licenses Estimated revenues-intergovernmental Estimated revenues-fines and forfeits Budgetary fund balance 180,000 44,000 120,000 1,090,000 Appropriations-general government Appropriations-public safety Appropriations-economic development 1,700,000 250,000 Appropriations-culture and recreation 144,000 8,000 Encumbrances: public safety-contractual services Budgetary fund balance reserved for encumbrances Totals 8,000 6,533,000 6,533,000 Additional information: At December 31, 2021, the State treasurer is holding $26,000 of sales taxes and $18,000 of income taxes that will be remitted to the Village no later than February 28, 2022. Revenues from property taxes, as well as revenues from all other sources in the general fund, use the same time period for "availability." Appropriations lapse at the end of the year. Required: A. Prepare the statement of revenues, expenditures, and changes in fund balance for the general fund of the Village of Stoneville for the year ended December 31, 2021. B. Prepare the balance sheet for the general fund of the Village of Stoneville at December 31, 2021. All of the fund balance is unassigned. The information below shows the unadjusted trial balance for the general fund of the Village of Stoneville as of December 31, 2021. + Accounts Debits Credits Cash 204,000 20,000 Property taxes receivable Vouchers payable 44,000 16,000 Accrued salaries payable Due to other governments Fund balance 14,000 275,000 1,082,000 Expenditures-general government Expenditures-public safety 1,649,000 246,000 Expenditures-economic development Expenditures-culture and recreation 140,000 Revenues-taxes 2,200,000 610,000 Revenues-permits and licenses Revenues-intergovernmental 144,000 38,000 2,240,000 600,000 Revenues-fines and forfeits Estimated revenues-taxes Estimated revenues-permits and licenses Estimated revenues-intergovernmental Estimated revenues-fines and forfeits Budgetary fund balance 180,000 44,000 120,000 1,090,000 Appropriations-general government Appropriations-public safety Appropriations-economic development 1,700,000 250,000 Appropriations-culture and recreation 144,000 8,000 Encumbrances: public safety-contractual services Budgetary fund balance reserved for encumbrances Totals 8,000 6,533,000 6,533,000 Additional information: At December 31, 2021, the State treasurer is holding $26,000 of sales taxes and $18,000 of income taxes that will be remitted to the Village no later than February 28, 2022. Revenues from property taxes, as well as revenues from all other sources in the general fund, use the same time period for "availability." Appropriations lapse at the end of the year. Required: A. Prepare the statement of revenues, expenditures, and changes in fund balance for the general fund of the Village of Stoneville for the year ended December 31, 2021. B. Prepare the balance sheet for the general fund of the Village of Stoneville at December 31, 2021. All of the fund balance is unassigned.

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A Statement of Revenues Expenditures and Changes in Fund Balance General Fund For ... View the full answer