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Following Is the Adjusted Trial Balance for the General Fund

Question 51

Short Answer

Following is the adjusted trial balance for the General Fund of the Township of Whitt as of June 30, 2020, the end of the fiscal year. Prepare (a) a balance sheet and (b) a statement of revenues, expenditures, and changes in fund balance.
Township of Whitt General Fund Adjusted Trial Balance June 30, 2020 Cash $6,200 Taxes receivable 40,000 Investments 65,000 Vouchers payable $38,750 Tax anticipation notes payable 12,750 Unassigned fund balance 57,000 Estimated revenues 101,000 Appropriations 99,000 Budgetary fund balance 2,000 Revenues-taxes 100,000 Revenues-other 2.080 Expenditures–personal services 94,700 Expenditures-supplies 4,680$311,580$311,580\begin{array}{c}\text {Township of Whitt }\\\text {General Fund }\\\text {Adjusted Trial Balance}\\\text { June 30, 2020}\\\begin{array}{lrr}\text { Cash } & \$ 6,200 \\\text { Taxes receivable } & 40,000 \\\text { Investments } & 65,000\\\text { Vouchers payable } && \$ 38,750 \\\text { Tax anticipation notes payable } && 12,750 \\\text { Unassigned fund balance }&&57,000\\\text { Estimated revenues } & 101,000 \\\text { Appropriations } && 99,000 \\\text { Budgetary fund balance } && 2,000 \\\text { Revenues-taxes } && 100,000 \\\text { Revenues-other } && 2.080\\\text { Expenditures--personal services } & 94,700 \\ \text { Expenditures-supplies } & \underline{4,680}&\underline{\quad\quad} \\& \underline{\$ 311,580}& \underline{\$ 311,580} \\ \end{array}\end{array}

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