The Adjusted Trial Balance for White River for the Fiscal

question 65

Essay

The adjusted trial balance for White River for the fiscal year ended June 30,20X9,is presented below.
Required:
a.Prepare a statement of revenues,expenditures,and changed in fund balance for White River for the year ended June 30,20X9.Assume there were no supplies or outstanding encumbrances at the beginning of the year.
b.Prepare a balance sheet for White River at June 30,20X9.

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Definitions:

Adjusted Trial Balance

A list of all the accounts and their balances after adjustments are made for revenues and expenses, used to prepare financial statements.

Financial Statement Column

A column in a financial statement that categorizes financial data, such as assets, liabilities, revenues, or expenses, to help analyze financial health.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts and prepare the accounts for the next period.

Owner's Equity Statement

A financial statement that shows the changes in the equity of a company's owner(s) over a period of time.