The December 31, 2020 trial balance of the ABC County

The December 31, 2020 trial balance of the ABC County general fund, before adjusting and closing entries, is as follows:

1. What was balance in fund balance–unassigned on January 1, 2020, before the budget entry was made?

2. Using the attached T-account template:

• Enter the unadjusted balances (above) and label each one “BAL”
• Prepare the required adjusting entry related to the uncollected taxes at year-end, 75% which are considered to be collectible within 60 days, and the remainder are uncollectible.  

3. Prepare the necessary closing entries for the year ended December 31, 2020, labeling the entries “CE-1” an “CE-2”

4. Prepare the 2020 operating statement for the general fund, in good form.

Prepare the December 31, 2020 balance sheet for the general fund, in good form.