Question: (Preparation of financial statements and interpretation of operating results) Following is the December 31, 2013, trial balance for Radnor City's General Fund. Based on this information, prepare
(a) a statement of revenues, expenditures, and changes in fund balance,
(b) a balance sheet, and (c) a budgetary comparison schedule.
Classify the fund balance as Unassigned. Then, examine the budgetary comparison schedule, and write a short paragraph explaining the results of the year's operations in relation to the budget.
