1. The trial balance for the General Fund of the city of Colima on June 30, 2005
ID: 2501241 • Letter: 1
Question
1.
The trial balance for the General Fund of the city of Colima on June 30, 2005, follows. There were no budgeted or actual other financing sources or other financing uses.
City of Colima General Fund
Trial Balance
June 30, 2005
Debit Credit
Cash 35,500
Taxes Receivable-Delinquent 14,250
Allowances for uncollectible delinquent taxes 250
Inventory of supplies (balance on June 30, 2004, $10,000) 12,500
Vouchers Payable 17,500
Fund Balance reserved for encumbrances 1,250
Fund Balances reserved for inventory of supplies 12,500
Unreserved and undesignated fund balance 17,500
Budgetary Fund Balance 10,000
Estimated Revenues 200,000
Appropriations 190,000
Revenues 202,000
Expenditures 187,500
Encumbrances 1,250
Totals 451,000 451,000
a. Complete the following statement of revenues, expenditures and changes in net assets of the General Fund for the year ended June 30, 2005:
City of Colima General Fund
Statement of Revenues, Expenditures, and
Changes in Fund Balance
Explanation / Answer
City of Colima General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Revenues
202000
Expenditures
187500
Changes in Fund Balance
14500
City of Colima General Fund
Statement of Revenues, Expenditures, and Changes in Fund Balance
Revenues
202000
Expenditures
187500
Changes in Fund Balance
14500
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