The statement of revenues, expenditures and fund balance for the year ended December 31, XXXX, and the comparative balance sheets for January 1, XXXX, and December 31, XXXX, for Petersburg School System 10 are shown below.

Instructions:
Prepare a statement of changes in financial position for the general fund of Petersburg School System 10 for the year ended December 31, XXXX.

Transcribed Image Text:

Petersburg School System 10 General Fund Statement of Revenues, Expenditures and Fund Balance For the year ended December 31, XXXX Revenues From local sources $800,000 From state sources 750,000 From federal sources 50,000 From other school systems in the state 15,000 Total Revenues $1,615,000 Expenditures Administration $75,000 Instruction 1,215,000 Health services 4,500 Transportation services 16,000 Operation of plant 8,000 Maintenance of plant 9,500