Below is the preclosing trial balance of a county's general fund at year-end: ...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Below is the preclosing trial balance of a county's general fund at year-end:
|
| Dr | Cr |
| Cash | $ 45,000 |
|
| Property taxes receivable | 180,000 |
|
| Due from other funds | 25,000 |
|
| Estimated revenues | 2,300,000 |
|
| Operating expenditures | 1,963,000 |
|
| Capital outlay | 120,000 |
|
| Debt service: Principal | 50,000 |
|
| Debt service: Interest | 140,000 |
|
| Transfers out | 29,000 |
|
| Allowance for uncollectible property taxes |
| $ 150,000 |
| Accounts payable |
| 45,000 |
| Due to other funds |
| 22,000 |
| Appropriations |
| 2,275,000 |
| Estimated other financing uses |
| 30,000 |
| Property tax revenues |
| 2,295,000 |
| Fund balanceunassigned | _________ | 35,000 |
|
| $ 4,852,000 | $ 4,852,000 |
The general fund's year-end balance sheet will report total liabilities of:
Select one:
A. $ 67,000
B. $195,000
C. $ 45,000
D. $217,000
On the general fund operating statement, what are total expenditures?
Select one:
A. $2,302,000
B. $2,103,000
C. $2,223,000
D. $2,273,000
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.