Facebook Twitter

Accounting Tutorial › Without Fund Accounting

Here we will prepare a set of financial statements for SpringTime without using fund accounting. With the information below we will prepare journal entries which we will post to a general ledger. Using our final trial balance and the 1999 trial balance we used in our Fund Accounting discussion, we will create the financial statements.

General Ledger

Financial Statements

December 31, 2000

Let us first enter the synoptic journal totals for all the cash transactions during the year. Below are the totals of the year’s cash transactions:

SpringTime
Synoptic Journal Totals - Operating Account - Dr (Cr)
December 31, 2000

Bank Admin Expense Spring Fling Expenses Spring Fling Receipts Unrestricted receipts Flower Pin receipts Endowment receipt Bond Purchase
500 400 100 (700) (100) (200) (10,200) 10,200

SpringTime
Synoptic Journal Totals - Capital Account - Dr (Cr)
December 31, 2000

Bank Debt Contribution Debt Payment
(60) (100) 160

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries

Prepare Entries