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A countys general fund trial balance at the beginning of the year is as follows:

	Dr (Cr)
Cash	$ 42,000
Fund balanceunassigned	(42,000)
Total	$ -0-

The following events occur during the year:

a. The budget is $1,100,000 in estimated revenues, $125,000 in estimated other financing sources, and $1,230,000 in estimated expenditures.

b. Property tax bills of $1,150,000 were sent out. Uncollectible taxes were estimated at $50,000. Cash of $1,080,000 was collected during the year.

c. General expenditures for salaries, wages and supplies are $1,200,000, paid in cash.

d. The general fund issues general obligation bonds at par, receiving $120,000 in cash.

e. Equipment costing $28,000 was purchased for cash.

f. It is estimated that 80% of uncollected taxes at year-end are uncollectible.

#6

How does the beginning-of-year budget entry affect fund balanceunassigned?

a. No effect

b. $ 5,000 credit

c. $ 5,000 debit

d. $130,000 debit

#7

Property tax revenues for the year are:

a. $1,100,000

b. $1,094,000

c. $1,150,000

d. $1,106,000

#8

What net effect do the general funds end-of-year closing entries have on fund balanceunassigned?

a. $ 9,000 debit

b. $11,000 debit

c. $16,000 credit

d. $37,000 credit

#9

The general funds statement of revenues, expenditures, and changes in fund balances reports total expenditures of

a. $1,230,000

b. $1,200,000

c. $1,250,000

d. $1,228,000

#10

The general funds statement of revenues, expenditures, and changes in fund balances reports net other financing sources (uses) of:

a. $ 28,000 net other financing uses

b. $120,000 net other financing sources

c. $ 92,000 net other financing sources

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