On July 1, XXXX (beginning of the fiscal year), the unreserved fund balance of Cape Jennifer School District was $323,000. During the year, revenue amounting to $2,920,000 was realized and expenses amounting to $2,800,000 were incurred

Prepare the statement of revenues, expenditures and fund balance for the fiscal year ending June 30, XXXX.

Question

On July 1, XXXX (beginning of the fiscal year), the unreserved fund balance of Cape Jennifer School District was $323,000. During the year, revenue amounting to $2,920,000 was realized and expenses amounting to $2,800,000 were incurred

Prepare the statement of revenues, expenditures and fund balance for the fiscal year ending June 30, XXXX.

Accepted Answer

TEXTBOX 10.1.
Cape Jennifer School District
General Fund
Statement of Revenues, Expenditures and Fund Balance
For the fiscal year ended June 30, XXXX

Beginning Fund Balance,
July 1, XXXX $323,000
Add excess if revenues over expenditures
Revenues $2,920,000
Less: Expenditures 2,800,000 120,000
Ending Fund Balance,
June 30, XXXX $443,000

Question 10.1: On July 1, XXXX (beginning of the fiscal year), the unreserv...

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