Hi, I was hoping to get some help with the following problem: Already completed
ID: 2481570 • Letter: H
Question
Hi, I was hoping to get some help with the following problem: Already completed a-1 so it should be easy for the one's that are skilled in this subject ! thanks in advance :)
Prepare a statement of activities for governmental activities for December 31, 2015.
a-1. Prepare a statement of activities for governmental activities for December 31, 2015. (COMPLETED!!!)
a-2. Prepape a statement of net position for governmental activities for December, 31, 2015
b. Prepare a statement of revenues, expenditures, and other changes in fund balances and a balance sheet for the General Fund as of December 31, 2015, and the year then ended. Assume that the city applies the consumption method.
Prepare a statement of activities for governmental activities for December 31, 2015.
Explanation / Answer
Statement of revenues, expenditures, and other changes in fund balances: Revenue Property taxes 394000 Franchise Taxes 51400 Charges for general Government services 5800 Charges for public safety services 4900 Charges for health and sanitation services 46900 503000 Expenses General Govt Public Safety Health and Sanitation Total Salaries 67600 44200 25300 137100 Rent 16200 22300 4800 43300 Maintenance 37800 6900 10600 55300 Insurance 9900 15100 12300 Prepaid 3200 Expense for the year 9900 11900 12300 34100 Interest on debt 20360 Depreciation of Strorage Shed 12600 Depreciation of Equipment 128500 5 25700 Supplies 24900 80% 19920 348380 Surplus from ordinary activities 154620 Non operating activities Changes in value of investments- appreciation 126000-109000 17000 Compansated absences 0 Net surplus 171620 Balance sheet for the General Fund as of December 31, 2015, and the year then ended: Sources of fund Capital reserves 14100 Surplus from activities 171620 Long term note payable 254500 5090 249410 Expenses payable 4500 8700 9300 22500 Compansated absences payable 21500 479130 Application of funds Storage Shed 126000 12600 113400 Equipment 128500 25700 102800 Investment 126000 Supplies held 4980 Bank balance 34550 Prepaid public services insurance 3200 Property taxes recievable 94200 479130
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