The pre-closing trial balance of the General Fund of Volter Village at the end of its fiscal year, June 30, 20X1, is as follows:
Required:
a.
Prepare closing entries.
b.
Prepare a statement of revenues, expenditures, and changes in fund balances for the General Fund for the year ended June 30, 20X1.
c.
Prepare the General Fund balance sheet as of June 30, 20X1.

Question

The pre-closing trial balance of the General Fund of Volter Village at the end of its fiscal year, June 30, 20X1, is as follows:
  Required: 
a.
Prepare closing entries.
b.
Prepare a statement of revenues, expenditures, and changes in fund balances for the General Fund for the year ended June 30, 20X1.
c.
Prepare the General Fund balance sheet as of June 30, 20X1.

Quizplus · Accepted Answer

The Answer of The pre-closing trial balance of the General Fund of Volter Village at the end of its fiscal year, June 30, 20X1, is as follows:
  Required: 
a.
Prepare closing entries.
b.
Prepare a statement of revenues, expenditures, and changes in fund balances for the General Fund for the year ended June 30, 20X1.
c.
Prepare the General Fund balance sheet as of June 30, 20X1.

The Pre-Closing Trial Balance of the General Fund of Volter