City of Angels: Government Accounting
Analyze financial data of a government entity - the City of Angels - in order to create financial statements. Download the City of Angels financial data and when you have completed your review, provide the following and submit your work in a single Word document:
Journal entries for approved budget for City of Angels for 2010
Revenues ledger for City of Angels for 2010
Appropriations, expenditures, and encumbrances ledger for City of Angels for 2010
Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended June 30, 2010
After reviewing the data, evaluate the likelihood of the city council defaulting on the <,500 they borrowed on a 90-day note. In your evaluation (150-300 words), be sure to consider the limitations of the data you have available and what information you might need in order to strengthen your conclusions.
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This posting provides a solution to an analysis of financial data.