The pre-closing trial balance for the general fund of Lancaster Company at December 31,2021 is...

60.1K

Verified Solution

Question

Accounting

image

The pre-closing trial balance for the general fund of Lancaster Company at December 31,2021 is given below. CashTaxesreceivableEstimatedrevenuesEstimatedotherfinancingsourcesExpenditureTransfersoutCapitalOutlayDebtservice-principalDebtservice-interestAllowanceforuncollectibletaxesAccountspayablePropertytaxrevenuesOtherrevenuesProceedsfrombondsTransfersinAppropriationsEstimatedotherfinancingusesFundbalance-cunassignedDebit$362,000113,0001,290,00060,0001,015,00020,00025,0002,0008,0008,00022,000Credit$5,00050,000950,000400,00050,0001,085,000285,000$2,895,000 What is the excess of revenues over expenditures reported on 2021 statement of revenues, expenditures and changes in fund balance

Answer & Explanation Solved by verified expert
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!
Become a Member

Other questions asked by students