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Lone wor ules the purchuse methoe of accounting...

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Accounting

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Lone wor ules the purchuse methoe of accounting tor invertories and the lapting method of accourting for ancursrancec Requtred: a. Prepare the ciosing entries tox the gentrai fund Note: If no eatry is required for a transactionievent, select "Wo joum entey requires" m the frit accaurt fint. Journal entry worksheet Brard tee ertry to obse the tudpiter autuets. 0. Prepare a genera fynd-pey suance antet at Decemoer 3t: 20xt. thouss be indicates wim minut sign. The preclosing trai balance at December 31, 201, for Lone Wolf's generai fund follows. wrr wuln users ine purchase method of accounting for inventories and the lapsing merhod of accounting for encumbrances Requlred: o. Prepare the closing entrles for the general fund. Note: If no entry is required for a trensection/event, select "No journal entry requlred" In the first account field. Journal entry worksheet D=E,PP Record the entry to close the budgetary accounts. Noter Enter debits before credta. b. Prepare a general fund-only balance sheet at December 3t, 20xt. Note; Follow the some sequence shown in the problem statement to select the approprlate answers. Amounts to be deducted should be Indicated with minus sign

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