Preparing financial statements from a trial balance, Following is the pre closing trial balance of Prairie City at the end of fiscal 2009. Assume that at the beginning of the year no encumbrances were outstanding, that the reserve for supplies inventory amounted to $4,000, and that the Unreserved fund balance was $21,000. Prepare the budgetary comparison schedule.
Prairie City General
Fund Pre-closing Trial Balance December 31, 2009 Debit Credit
Cash - Dr $ 22,450
Marketable securities - Dr 50,000
Property taxes receivable - Dr 35,525
Allowance for uncollectible property taxes - Cr $18,000
Sales taxes receivable - Dr 8,500
Due from state government - Dr 16,000
Supplies inventory- Dr 7,000
Vouchers payable - Cr 12,275
Due to other funds - Cr 13400
Advances from other funds - Cr 35000
Encumbrances-contractual services - Dr 10000
Funds balance reserved for supplies inventory - Cr 7000
Unreserved fund balance - Cr 21000
Budgetary fund balance reserved for encumbrances - Cr 10000
Budgetary fund balance - Cr 21500
Estimated revenues-property taxes - Dr 125000
Estimated revenues-sales taxes - Dr 73000
Estimated revenues-charges for services - Dr 14000
Estimated revenues- fines and forfeits - Dr 8500
Estimated revenues- federal grants - Dr 10000
Estimated transfer in from enterprise fund - Dr 30000
Appropriation-salaries - Cr 107000
Appropriation-contractual services - Cr 27000
Appropriation-materials and supplies - Cr 15000
Appropriation-capital equipment - Cr 70000
Appropriation-transfer out to debt service fund - Cr 20000
Revenues-property taxes - Cr 117500
Revenues-sales taxes - Cr 73600
Revenues- charge of services - Cr 12400
Revenues-fines and forfeits - Cr 8900
Revenues-federal grants - Cr 10000
Transfer in from enterprise fund - Cr 35000
Expenditures-salaries - Dr 105200
Expenditures-contractual services - Dr 15000
Expenditures-materials and supplies - Dr 15300
Expenditures-capital equipment - Dr 69100
Transfer out to debt services fund - Dr 20000
Total : Dr $634,575 Cr$ 634,575