(Financial Statement Preparation—City of Savannah, Georgia) Presented here is the Preclosing
- 1. Outstanding encumbrances as of December 31, 20X6, all related to activities financed from resources available for general purposes, are $1,157
- 2. Receivables are reported at net amounts on the balance sheet.
Required Prepare the City of Savannah, Georgia, Balance Sheet at December 31, 20X6, and its 20X6 Statement of Revenues, Expenditures, and Changes in Fund Balances. The City has taken the formal action required to commit. $500 to economic development activities.
This case was based on the information in a comprehensive annual financial report for the City of Savannah, Georgia.
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