The preclosing trial balance of the General Fund of the City of Thomason shows the following balances at the end of the fiscal year. Based on that information, (a) prepare closing entries for the budgetary and financial accounts, and (b) calculate the city's actual ending fund balance.
$$\begin{array} { l r }
\text { Budgetary fund balance } & \$ 10,000 \
\text { Fund balance, beginning (actual) } & 150,000 \
\text { Estimated revenues } & 620,000 \
\text { Appropriations } & 610,000 \
\text { Revenues (actual) } & 625,000 \
\text { Expenditures } & 605,000
\end{array}$$

Question

The preclosing trial balance of the General Fund of the City of Thomason shows the following balances at the end of the fiscal year. Based on that information, (a) prepare closing entries for the budgetary and financial accounts, and (b) calculate the city's actual ending fund balance. 
 $$\begin{array} { l r } 
\text { Budgetary fund balance } & \$ 10,000 \
\text { Fund balance, beginning (actual) } & 150,000 \
\text { Estimated revenues } & 620,000 \
\text { Appropriations } & 610,000 \
\text { Revenues (actual) } & 625,000 \
\text { Expenditures } & 605,000
\end{array}$$

Quizplus · Accepted Answer

The Answer of The preclosing trial balance of the General Fund of the City of Thomason shows the following balances at the end of the fiscal year. Based on that information, (a) prepare closing entries for the budgetary and financial accounts, and (b) calculate the city's actual ending fund balance. 
 $$\begin{array} { l r } 
\text { Budgetary fund balance } & \$ 10,000 \
\text { Fund balance, beginning (actual) } & 150,000 \
\text { Estimated revenues } & 620,000 \
\text { Appropriations } & 610,000 \
\text { Revenues (actual) } & 625,000 \
\text { Expenditures } & 605,000
\end{array}$$

The Preclosing Trial Balance of the General Fund of the City