1 NHÓM PhạmThị Thu Huyền Lê Thị Thúy An Lê Thị Mai Chi Nguyễn Thị Kim Phụng Huỳnh Thị Minh Phương Nguyễn Vũ Nhật Ngân Nguyễn Thị Ánh Hằng Nhóm Nhóm 2 Adjusting entry Expenditure 2,000 Voucher Payable 2,000 To adjust the supplies expenditure and voucher payable accounts using purchase method for supplies Có nhiều cách khóa sổ khác nhau, nhóm trình bày cách sau: Cách 1: To close the budget Appropriations 300,000 Estimated revenues 300,000 To close revenues, expenditure accounts Reserve for encumbrances - prior year Revenues 5,000 305,000 Expenditures- prior year 5,000 Encumbrances 6,000 Expenditures 292,000 Fund Balance - unassigned 7,000 To close ending reserve for encumbrances Reserve for encumbrances 6,000 Fund balance – committed 6,000 Cách 2: To close Revenues accounts in current year Revenues 305,000 Estimated Revenues 300,000 Fund Balance - unassigned 5,000 To close Expenditures and Encumbrances accounts in current year Appropriations 300,000 Expenditures 292,000 Encumbrances 6,000 Fund Balance - unassigned 2,000 To close Expenditures accounts in prior year Reserve for encumbrances – prior year 5,000 Expenditures – prior year 5,000 10 To close ending reserve for encumbrances Reserve for encumbrances 6,000 Fund balance – committed 6,000 11 Millar City General Fund Balance Sheet June 30, 2014 Assets Cash Taxes receivable Less: Allowance for uncollectible Accounts Due from other funds Supplies inventory, June 30, 2014 Total assets Liabilities and Fund Balance Liabilities: Vouchers payable Due to other funds Total liabilities Fund balance: Committed Nonspendable Unassigned Total fund balance Total liabilities and fund Nhóm balance $12,000 $30,000 2,000 28,000 3,000 4,000 $47,000 $15,000 5,000 $20,000 $ 6,000 4,000 12 10,000 17,000 27,000 $47,000 Check: Fund Balance unassigned Estimated Revenues 300,000 Expenditures 290,000 Expendituresprior year 5,000 Encumbrances 6,000 Adjust- (for inventory) 2,000 10,000 Pre-closing balance 300,000 Appropriation 305,000 Revenues Reserve for 5,000 encumbrances - Prior year 17,000 13 14 To close the budgetary accounts Appropriations Fund Balance - unassigned Estimated revenues 95,000 5,000 100,000 15 To Close Current Year Operating Statement Accounts Revenues Reciprocal transfers in 101,000 27,000 Expenditures 94,000 Encumbrances 4,000 Nonreciprocal transfers out 18,000 Fund Balance - unassigned 12,000 16 Closing Prior Year Accounts Reserve for encumbrances - prior year 5,000 Expenditures - prior year 4,800 Fund Balance - unassigned 200 17 Madelyn City General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance for the year ended December 31, 2014 Revenues $ 101,000 Expenditures Expenditure (94,000) Expenditure - prior year (4,800) Excess of revenues over expenditures 2,200 Other financing sources ( uses) Reciprocal transfer in 27,000 Nonreciprocal transfers out (18,000) Excess of revenues and OFS over expenditure and OFU 11,200 Fund balance, Jan 01, 2014 Fund balance, Dec 31, 2014 25,000 $ 36,200 18 Fund Balance -unassigned Estimated revenues Encumbrances Expenditures $100,000 $ 25,000 Preclosing balance 4,000 94,000 95,000 Appropriations 5,000 Reservefor encumbrances — prior year Expenditures—prior year Nonreciprocal transfers out 4,800 18,000 101,000 Revenues 27,000 Reciprocal transfers in 32,200 Ending balance Total Fund Balance = Unassigned Fund Balance + Committed Fund Balance = 32,200 + 4,000 = 36,200 19 THANK YOU 20 [...]...4 To close ending reserve for encumbrances Reserve for encumbrances 6, 000 Fund balance – committed 6, 000 11 Millar City General Fund Balance Sheet June 30, 2014 Assets Cash Taxes receivable Less: Allowance for uncollectible Accounts Due from other funds Supplies inventory, June 30, 2014... balance 2 Total liabilities and fund Nhóm balance $12,000 $30,000 2,000 28,000 3,000 4,000 $47,000 $15,000 5,000 $20,000 $ 6, 000 4,000 12 10,000 17,000 27,000 $47,000 Check: Fund Balance unassigned Estimated Revenues 300,000 Expenditures 290,000 Expendituresprior year 5,000 Encumbrances 6, 000 Adjust- (for inventory) 2,000 10,000 Pre-closing balance 300,000 Appropriation 305,000 Revenues Reserve for 5,000... Close Current Year Operating Statement Accounts Revenues Reciprocal transfers in 101,000 27,000 Expenditures 94,000 Encumbrances 4,000 Nonreciprocal transfers out 18,000 Fund Balance - unassigned 12,000 16 3 Closing Prior Year Accounts Reserve for encumbrances - prior year 5,000 Expenditures - prior year 4,800 Fund Balance - unassigned 200 17 Madelyn City General Fund Statement of Revenues, Expenditures,... sources ( uses) Reciprocal transfer in 27,000 Nonreciprocal transfers out (18,000) Excess of revenues and OFS over expenditure and OFU 11,200 Fund balance, Jan 01, 2014 Fund balance, Dec 31, 2014 25,000 $ 36, 200 18 Fund Balance -unassigned Estimated revenues Encumbrances Expenditures $100,000 $ 25,000 Preclosing balance 4,000 94,000 95,000 Appropriations 5,000 Reservefor encumbrances — prior year Expenditures—prior... Nonreciprocal transfers out 4,800 18,000 101,000 Revenues 27,000 Reciprocal transfers in 32,200 Ending balance Total Fund Balance = Unassigned Fund Balance + Committed Fund Balance = 32,200 + 4,000 = 36, 200 19 THANK YOU 20