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Construct the Post Closing Trial balance for the year ending june 30, 1015 from the following
trial balance:
City of Middleberry
Capital Projects Fund #1
Post Closing Trial Balance
June 30, 2015
Debit
Credit
Cash
3,292
Due from State
810
Contracts Payable
2,250
Retainage Payable
250
Encumbrances
1,900
Encumbrances Outstanding
1,900
Revenues – Intergovernmental
810
Expenditures – Debt Service – Interest
8
Expenditures – Debt Service – Bond Issue Costs
20
Expenditures – Capital Outlay
2,700
OFS – BANs Principal
400
OFS – Bond Premium
90
OFS – Bond Principal
3,000
OFS – Transfer from GF
500
OFU – Repayment of BANs
400
OFU – Transfer to DSF #1
70
9200
9200
City of Middleberry
Capital Projects Fund #1
Post Closing Trial Balance
June 30, 2015
Debit
Credit
Cash
3,292
Due from State
810
Contracts Payable
2,250
Retainage Payable
250
Encumbrances
1,900
Encumbrances Outstanding
1,900
Revenues – Intergovernmental
810
Expenditures – Debt Service – Interest
8
Expenditures – Debt Service – Bond Issue Costs
20
Expenditures – Capital Outlay
2,700
OFS – BANs Principal
400
OFS – Bond Premium
90
OFS – Bond Principal
3,000
OFS – Transfer from GF
500
OFU – Repayment of BANs
400
OFU – Transfer to DSF #1
70
9200
9200
Solution
TRIAL BALANCE CAPITAL PROJECT FUND FOR THE PERIOD ENDED JUNE
30 2015 Account Title Debit Credit Cash 3292.00 Due from state 810.00
Fixed Assets 2700.00 Contract Payable 2250.00 Retainage Payable 250.00
Bond 3000.00 Bond Premiyum 90.00 General Fund 1212.00 TOTAL 6802.00
6802.00

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Construct the Post Closing Trial balance for the year ending june 30.pdf

  • 1. Construct the Post Closing Trial balance for the year ending june 30, 1015 from the following trial balance: City of Middleberry Capital Projects Fund #1 Post Closing Trial Balance June 30, 2015 Debit Credit Cash 3,292 Due from State 810 Contracts Payable 2,250 Retainage Payable 250 Encumbrances 1,900 Encumbrances Outstanding 1,900 Revenues – Intergovernmental 810 Expenditures – Debt Service – Interest 8 Expenditures – Debt Service – Bond Issue Costs 20 Expenditures – Capital Outlay 2,700 OFS – BANs Principal 400 OFS – Bond Premium 90 OFS – Bond Principal 3,000 OFS – Transfer from GF
  • 2. 500 OFU – Repayment of BANs 400 OFU – Transfer to DSF #1 70 9200 9200 City of Middleberry Capital Projects Fund #1 Post Closing Trial Balance June 30, 2015 Debit Credit Cash 3,292 Due from State 810 Contracts Payable 2,250 Retainage Payable 250 Encumbrances 1,900 Encumbrances Outstanding 1,900 Revenues – Intergovernmental 810 Expenditures – Debt Service – Interest 8 Expenditures – Debt Service – Bond Issue Costs 20 Expenditures – Capital Outlay 2,700 OFS – BANs Principal 400 OFS – Bond Premium
  • 3. 90 OFS – Bond Principal 3,000 OFS – Transfer from GF 500 OFU – Repayment of BANs 400 OFU – Transfer to DSF #1 70 9200 9200 Solution TRIAL BALANCE CAPITAL PROJECT FUND FOR THE PERIOD ENDED JUNE 30 2015 Account Title Debit Credit Cash 3292.00 Due from state 810.00 Fixed Assets 2700.00 Contract Payable 2250.00 Retainage Payable 250.00 Bond 3000.00 Bond Premiyum 90.00 General Fund 1212.00 TOTAL 6802.00 6802.00