Teds Village has five governmental funds: a General Fund, a Debt Service Fund, and three...
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Accounting
Teds Village has five governmental funds: a General Fund, a Debt Service Fund, and three special revenue fund. IT has no proprietary funds. The following information is available at December 31, 2019 for each of the funds. First, determine which of the funds are major funds. Then, prepare a balanace sheet in the appropriate format, showing the major funds, a total for the nonmajor funds, and a total for all government funds
Special Revenue
General
Debt Service
Fund A
Fund B
Fund C
Cash
10,000
5,000
600
300
700
Taxes Receivable
5,000
2,000
Accounts Payable
6,000
200
100
400
Assigned Fund Balance
1,000
400
200
300
Restricted Fund Balance
7,000
Unassigned fund balance
8,000
total revenues
52,000
6,000
2,400
1,200
3,400
total expenditures
48,000
5,000
2,300
1,100
3,200
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