The General Fund trial balance of the City of Cordes as of January 1, 2012, was as follows:The following data pertain to General Fund operations for the City of Cordes for the fiscal year ended December 31, 2012:1. Budget adopted:2. Encumbrances outstanding at the end of 2011 were re-established.3. Property taxes of $430,000 were levied. Two percent of the tax levy is expected to be uncollectible.4. Purchase orders issued in 2012:Public Safety ….. $152,000General Government .. 80,000Culture and Recreation . 54,000 $286,0005. Cash collections and transfers:Delinquent Taxes …. $ 39,200Current Taxes ……. 368,000Fines, Forfeits, and Penalties . 154,000Miscellaneous Revenues …. 20,000Transfers In ……… 18,000 $599,2006. Purchase orders issued in 2012 were filled in the following amounts:7. Purchase orders issued in 2011 in the following amounts were filled in 2012:Estimated ActualPublic Safety $8,500 $8,4008. Additional accounts payable for salaries and wages (not encumbered):Public Safety …….. $230,000General Government …… 37,000 $267,0009. Accounts paid amounted to $570,000; the transfer out, $30,000, was made in cash.10. Reclassify Taxes Receivable—Current and Estimated Uncollectible Taxes—Current as delinquent.Required:a. Prepare journal entries to record the effects of the foregoing data. Omit explanations and subsidiary accounts.b. Prepare closing entries.c. Prepare for the General Fund of the City of Cordes(1) A Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended December 31, 2012.(2) A Balance Sheet as of December 31, 2012, assuming there are no restricted or committed net resources and the only assigned net resources are the outstandingencumbrances.
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The General Fund trial balance of the City of Cordes



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