the following account balances among others were included in the pre closing trial b 4375326

The following account balances, among others, were included in the pre-closing trial balance of the General Fund of the City of Madison on December 31, 2013.Appropriations…………. $3,488,000Cash …………. 270,000Due to Other Funds…….. 100,000Due from Other Funds………. 250,000Encumbrances……….. 382,000Estimated Revenue……… 3,720,000Expenditures…………. 3,020,000Expenditures—2012 ……… 296,000Reserve for Encumbrances……. 382,000Reserve for Encumbrances—2012…. 310,000Revenue………….. 3,656,000Taxes Receivable………. 600,000Transfers from Other Funds……. 300,000Transfers to Other Funds…….. 520,000Unreserved Fund Balance…….. 422,000Vouchers Payable………. 400,000Required:A. Prepare the necessary closing entries on December 31, 2013.B. Calculate the amount of both the unreserved fund balance and the total fund balance in the balance sheet (1) On December 31, 2012 and (2) On December 31, 2013.C. Prepare a schedule reconciling the December 31, 2012, total fund balance with the December 31, 2013, total fund balance by reference to actual inflows and outflows of financial resources.View Solution:
The following account balances among others were included in the

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