Clemens County had the following revenue sources in 20X5: General property taxes . . . . .
Question:
Clemens County had the following revenue sources in 20X5:
General property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . .$8,000,000
Restricted (for education) property taxes . . . . . . . . . . . . . . . . 570,000
Meals tax (restricted for economic development and tourism) . . . . .200,000
Fines and forfeits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82,000
Federal grant restricted for police protection . . . . . . . . . . . . . . . 132,000
Federal grant restricted for specific general government
construction projects for specific functions . . . . . . . . . . . . . . 600,000
Unrestricted investment income . . . . . . . . . . . . . . . . . . . . . 75,000
Required
Prepare a schedule computing the amount of general revenues and of program revenues that Clemens County should report in its government-wide Statement of Activities for the 20X5 fiscal year.
Step by Step Answer:
Governmental and Nonprofit Accounting
ISBN: 978-0132751261
10th edition
Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi