The following account balances, among others, were included in the pre-closing trial balance of the General Fund of the City of Lynchburg on December 31, 2013. Estimated Revenue………… $630,000 Expenditures …………… 468,000 Encumbrances…………… 120,000 Expenditures—2012 ………. 43,000 Reserve for Encumbrances (Note 1) …… 162,000 Appropriations…………… 672,000 Revenue……………. 696,000 Reserve for Supplies Inventory (Note 2)…. 72,000 Supplies Inventory (Note 2)……… 72,000 Unreserved Fund Balance………. 24,000 Note 1: The balance in this account was $42,000 on January 1, 2013. Purchase orders outstanding on December 31, 2013, total $120,000. Note 2: Supplies on hand on December 31, 2013, amount to $60,000. Required: A. What was the balance in the Unreserved Fund Balance account on December 31, 2012? What was the total Fund Balance on December 31, 2012? B. Prepare the necessary adjusting and closing entries for the year ended December 31, 2013. Supplies inventory is accounted for using the purchases method. C. Prepare a schedule to calculate the Unreserved Fund Balance and the total Fund Balance on December 31, 2013.

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