A pre-closing trial balance included the following account balances for Simpli City:                    Due from other funds                                                 $ 3,500                   Fund balance - unassigned                                         14,000                   Estimated revenues                                                     20,000                   Revenues                                                                    22,000                   Appropriations                                                            18,000                   Expenditures - current year                                         19,000                   Expenditures - prior year                                              1,500                   Other Financing Source - Nonreciprocal transfer in      1,000 Required: Prepare the necessary closing entries for the General Fund.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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. A pre-closing trial balance included the following account balances for Simpli City: 

                  Due from other funds                                                 $ 3,500

                  Fund balance - unassigned                                         14,000

                  Estimated revenues                                                     20,000

                  Revenues                                                                    22,000

                  Appropriations                                                            18,000

                  Expenditures - current year                                         19,000

                  Expenditures - prior year                                              1,500

                  Other Financing Source - Nonreciprocal transfer in      1,000

Required:

Prepare the necessary closing entries for the General Fund.

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