A Pre-Closing Trial Balance Included the Following Account Balances for Simpli

question 3

Essay

A pre-closing trial balance included the following account balances for Simpli City:
$\begin{array}{ll}\text { Due from other funds } & \$ 3,500 \\\text { Fund balance - unassigned } & 14,000 \\\text { Estimated revenues } & 20,000 \\\text { Revenues } & 22,000 \\\text { Appropriations } & 18,000 \\\text { Expenditures - current year } & 19,000 \\\text { Expenditures - prior year } & 1,500 \\\text { Other Financing Source - Nonreciprocal transfer in } & 1,000\end{array}$ Required:
Prepare the necessary closing entries for the General Fund.

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Definitions:

Major Premise

A key statement or proposition from which a conclusion is drawn in a logical argument or syllogism, serving as the basis for the argument.

Minor Premise

In logic and syllogistic reasoning, this is the second statement of a traditional syllogism, which along with a major premise, leads to a conclusion.

Prestige Suggestion

A marketing or sales technique that associates a product or service with high status or exclusivity to attract customers.

Julia Roberts

An acclaimed American actress known for her roles in major films and her contributions to the entertainment industry.