Reference no: EM131813859

Assignment: Individual Portion

Your team has been hired as the accountants for the Village of AIU. Your team is being asked to do the following:

• Your team is provided with the adopted budget, as well as the preclosing trial balance, of the revenues and expenditures subsidiary ledgers at year-end.

o Download the adopted budget and preclosing trial balance.
o Note that the only encumbrances outstanding at year-end were $15,000 for unperformed contracts in community development.
o The beginning fund balance was $75,000.

• Prepare the closing entries for the general ledger accounts and the subsidiary ledgers of the Village of AIU general fund.

• Prepare the statement of revenues, expenditures, and changes in fund balance-budget and actual-for the Village of AIU General Fund for the 20X9 fiscal year.

• Work as a team to define an approach for producing the deliverables for this assignment.

• Assign individual work to each team member.

Add your file.

Group Portion

• As individual work is completed, meet as a team to discuss and review the individual deliverables to ensure that they are correct before submitting the group document.

• Work as a team to decide how to assemble and submit the final deliverables.

Attachment:- Budget.rar