Below are various types of information on the financial performance of the Town of Granville: 1. General

Question:

Below are various types of information on the financial performance of the Town of Granville:
1. General property taxes collected.
2. Depreciation expense on general long-term assets.
3. Amount of general long-term debt outstanding.
4. Costs of providing public service programs.
5. Amounts on hand for future payment of general obligation debt.
6. Payroll deductions collected for health insurance, to be remitted to a private insurance carrier.
7. Amounts collected as user fees that fully fund community center day-care programs for the public.
8. Cost of general long-term assets purchased this year.
9. Investments held by a pension trust fund. 10. Gain on sale of public park land.
Required
Indicate which of Granville's financial statement(s) would report each item of information, according to SGAS 34. Choose from the following list of financial statements:
a. Government-wide statement of net position
b. Government-wide statement of activities
c. Governmental funds Governmental funds statement of revenues, expenditures, and changes in fund balances
e. Proprietary funds statement of net position
(. Proprietary funds statement of revenues, expenses, and changes in net position
g. Proprietary funds statement of cash flows
h. Fiduciary funds statement of fiduciary net position
i. Fiduciary funds statement of changes in fiduciary net position
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...