Explore BrainMass

Explore BrainMass

    Village of AUI

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    I need help with this one, my team was hired as accountants for the Village of A. My team is being asked to do the the following:
    Your team has been hired as the accountants for the Village of A. Your team is being asked to do the following:
    • My team is provided with the adopted budget, as well as the preclosing trial balance, of the revenues and expenditures subsidiary ledgers at year-end.
    o the adopted budget and preclosing trial balance is attached.
    o Note that the only encumbrances outstanding at year-end were $15,000 for unperformed contracts in community development.
    o The beginning fund balance was $75,000.
    • We need to prepare the closing entries for the general ledger accounts and the subsidiary ledgers of the Village of A general fund.
    • We need to prepare the statement of revenues, expenditures, and changes in fund balance—budget and actual—for the Village of AIU General Fund for the 20X9 fiscal year.
    Written in APA format - length 2-3 pages.

    © BrainMass Inc. brainmass.com December 24, 2021, 11:43 pm ad1c9bdddf


    Solution Summary

    Village of AUI, closing entries, Statement of Revenues, Expenditures, and Changes in Fund Balance