Prepare a general fund balance sheet

Case Study

The general fund of Middleville has presented you with the following trial balance as of June 30, 2011.

Don't use plagiarized sources. Get Your Custom Essay on
Prepare a general fund balance sheet
Just from $13/Page
Order Essay

Debits Credits

Cash $ 40,000

Taxes Receivable- Delinquent 142,000

Estimated Uncollectible Taxes- Delinquent 9,100

Interest and Penalties Receivable 32,000

Vouchers Payable 24,000

Budgetary Fund Balance-Reserve for Encumbrances 10,200

Fund Balance _________ 170,700

$ 214,000 $214,000


The information that is being presented to you pertains to the transactions for the city of Middleville for the fiscal year ended June 30, 2012.


1. The following budget was adopted by the city council:

Estimated Revenues:

Property Taxes $ 650,000

Fines and Penalties 44,000

Licenses and Permits 150,000

Federal Grant 85,000


Appropriations and Other Financing Uses

Public Safety 402,000

General Government 263,000

Public Works 102,000

Parks and Recreation 92,000

Transfers Out 34,000



2. Encumbrances outstanding at the end of the year were reopened.

3. Property taxes of $660,000 were levied. It is estimated that 2.5% of the property taxes levied are expected to be uncollectible.

4. Purchase orders issued for the 2012 fiscal year were as follows:

Public Safety, $395,000; General Government, $259,000; Public Works, $100,000; Parks and Recreation, $98,000.

5. Cash collected for the federal grant from the federal government: $94,000.

6. Cash collected and transferred in as follows:

Fines and Penalties $43,000

Licenses and Permits $164,000

7. Cash collected on property taxes were as follows: Current taxes, $559,000; Delinquent Taxes, $41,000; and $22,000 of interest and penalties were collected.





8. Purchase orders issued in 2012 in the following amounts were filled in at the following amounts.

Estimated Actual

Public Safety $395,000 $393,600

General Government $259,000 $258,200

Public Works $100,000 $99,400

Parks and Recreation $98,000 $97,500

————— —————

$852,000 $848,700


9. Vouchers paid amounted to $840,000 and the transfer out to the Debt Service Fund was $34,000.

10. Please reclassify the Taxes Receivable–Current and Estimated Uncollectible Taxes-Change from Current to Delinquent.




a. Prepare journal entries for the fiscal year ending 2012.

b. Prepare closing entries.

c. Prepare a general fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2012.

d. Prepare a general fund balance sheet as of June 30, 2012.

The Quizlet
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Us

Exemplary Academic Writing Service

At, you are guaranteed of quality service from our professional writers. We maintain consistent communication with customers after placing an order to avoid missing anything that may compromise the quality of delivered work.

Top Writers

Our hiring process is rigorous to maintain the desired quality that has become the core of our business. We expose potential writers to an uncompromising selection process that enables TheQuizlet to pick the best out of the rest. TheQuizlet boasts of a competent team of writers, editors, and professors who work towards accomplishing your goals.

Plagiarism-Free Papers

TheQuizlet has an in-house plagiarism software that lowers the probability of delivering plagiarized papers to our clients. Referencing is guided by the format specified by a customer when placing an order. Our writers are conversant with all referencing formats that include APA, MLA, Chicago, Harvard, and Vancouver among others.

24/7 Customer Support

We understand the importance of effective communication and as such, TheQuizlet has a dedicated customer support department that responds to all client needs. You can easily contact our team through a chat window at the bottom left corner. Additionally, clients can reach us through support’s email or a telephone number available on our contact page. Feel free to contact us at any time and our team of experts will solve all your problems.

Swift Delivery and 100% Money-back Guarantee

When placing an order, ensure that you specify the correct deadline to help our writers work around the provided timeline. At TheQuizlet, we deliver our tasks before the projected deadline to give time for the customer to proofread the work before submission. In the event we cannot deliver a paper on time, we initiate contact with the client to renegotiate a new deadline.

Unlimited and Free Revisions

We urge all our customers to request for a revision whenever they identify a need to amend the paper. Since we understand your concerns, does not charge for revisions. Nonetheless, we encourage customers to be genuine when requesting for revisions.

Try it now!

Calculate the price of your order

Total price:

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

TheQuizlet is a one-stop shop for all your writing needs. We tackle each customer’s needs differently to improve the quality of outcomes and meet your expectations.


Academic Help Service

TheQuizlet is committed to delivering quality work on time to ensure our clients get the value for their money.


Admission Essays and Professional Writing

Admission essays are personal, as opposed to other papers. For this reason, our team will request for any information that will enable them to deliver quality work, which allows you to convince the admissions board on why you should be granted the application.


Editing and Proofreading

Our team comprises of qualified researchers, writers, and editors who go through the different papers before delivering them to our clients. Whether your paper is being written from scratch or you want it to be edited, you can trust TheQuizlet for all your needs.


Revision Support

After receiving the final draft, you can request for a revision to incorporate various changes that are aligned with your expectations. All our papers are written in line with the latest writing standards.