The Unadjusted Trial Balance for the General Fund of the City

question 27

Essay

The unadjusted trial balance for the general fund of the City of Jordan at June 30, 2011 is as follows:
Supplies on hand at June 30, 2011 totaled $17,000.The $18,000 encumbrance relates to equipment ordered but not received by fiscal year-end.
Required:
Prepare a balance sheet for the general fund of the City of Jordan at June 30, 2011.

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Definitions:

Endorser

A person who signs their name on a document, often a check, to indicate their approval or to transfer ownership to another party.

Drawer

In a financial context, the person who writes or issues a check or draft instructing a bank to pay a specified sum of money to a designated party.

Liable

Legally responsible or obligated.

Promissory Note

A written and legally binding promise to pay a specific sum of money to a designated party at a specified time or on demand.