The credit balance in ABC Agency's Unexpended Appropriations at the beginning of its current fiscal year was $42,000, and the credit balance in ABC Agency's Cumulative Results of Operations at the beginning of its current fiscal year was $8,000. In its year end closing entries, ABC Agency debited Appropriations Used for $387,000 and credited Appropriations Realized for $406,000. In addition, the net costs of operations for ABC Agency for its current fiscal year were $367,000. What is the total net position for ABC Agency at the end of its current fiscal year?

Changes in mix of revenues and expenditures must be interpreted with care. The data that follow were drawn from the city of Boulder, Colorado’s CAFR. Dates have been changed. They are from two statistical-section schedules showing the mix of revenue and expenditures for a 10-year period. They include amounts only from the general fund, special revenue funds, and debt service funds.   2020 2021 (amounts in thousands) Revenues     Sales and use taxes $ 97,397 $104,136 General property taxes 29,474 29,434 Other taxes 20,278 21,184 Charges for services 27,030 22,670 Intergovernmental 16,420 13,348 Proceeds from bonds and notes 54,830   Other  20,660  21,473 Total revenues $266,089 $212,245 Expenditures     General government and administration $ 27,717 $ 30,185 Public safety 47,825 48,202 Public works 22,178 27,896 Housing and human services 13,384 20,226 Culture and recreation 25,677 28,089 Capital outlay 29,111 19,218 Debt service 13,574 16,375…

Prepare journal entries in general journal format to record the following transactions for the City of Dallas General Fund (subsidiary detail may be omitted) 1. The budget prepared for the fiscal year included total estimated revenues of $4,693,000, appropriations of $4,686,000 and estimated other financing uses of $225,000. 2. Purchase orders in the amount of $451,000 were mailed to vendors. 3. The current year’s tax levy of $4,005,000 was recorded; uncollectible taxes were estimated to be 2% of the tax levy. 4. Collections of delinquent taxes from prior years’ levies totaled $82,700; collections of the current year’s levy totaled $3,524,900. 5. Invoices were received and approved for payment for items ordered in documents recorded as encumbrances in transaction (#2) of this problem. The estimated liability for the related items was $351,200. Actual invoices were $353,500. 6. Revenue other than taxes collected during the year consisted of licenses and permits, $177,600;…

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020: 1. Beginning balances were: Cash, $110,000; Taxes Receivable, $215,000; Accounts Payable, $65,000; and Fund Balance, $260,000. 2. The budget was passed. Estimated revenues amounted to $1,400,000 and appropriations totaled $1,394,000. All expenditures are classified as General Government. 3. Property taxes were levied in the amount of $1,000,000. All of the taxes are expected to be collected before February 2021. 4. Cash receipts totaled $970,000 for property taxes and $340,000 from other revenue. 5. Contracts were issued for contracted services in the amount of $125,000. 6. Contracted services were performed relating to $111,000 of the contracts with invoices amounting to $106,000. 7. Other expenditures amounted to $1,040,000. 8. Accounts payable were paid in the amount of $1,204,000. 9. The books were closed. Required: a. Prepare journal entries for the above…