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Teds Village has five governmental funds: a General Fund, a Debt Service Fund, and three...

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Accounting

Teds Village has five governmental funds: a General Fund, a Debt Service Fund, and three special revenue fund. IT has no proprietary funds. The following information is available at December 31, 2019 for each of the funds. First, determine which of the funds are major funds. Then, prepare a balanace sheet in the appropriate format, showing the major funds, a total for the nonmajor funds, and a total for all government funds

Special Revenue

General

Debt Service

Fund A

Fund B

Fund C

Cash

10,000

5,000

600

300

700

Taxes Receivable

5,000

2,000

Accounts Payable

6,000

200

100

400

Assigned Fund Balance

1,000

400

200

300

Restricted Fund Balance

7,000

Unassigned fund balance

8,000

total revenues

52,000

6,000

2,400

1,200

3,400

total expenditures

48,000

5,000

2,300

1,100

3,200

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