Question
1 - The information included below relates to the city of Chicago for the year ended June 30, 2015. Using this information, prepare a statement
1 - The information included below relates to the city of Chicago for the year ended June 30, 2015. Using this information, prepare a statement of Revenue, Expenditures and Changes in Fund Balance as of year-end. Also provide a Governmental Fund Balance Sheet.
| Short Term Notes Payable | $25 | Property Tax Revenue | $600 |
| Cash | $156 | Proceeds from L/T Bonds | $100 |
| Investments | $120 | Proceeds from the sale of capital assets | $30 |
| Salary and Wages Payable | $60 | Pension Expenditures | $50 |
| Voucher Payable | $40 | Grant Revenue | $20 |
| Deferred Inflow of Resources | $22 | Interest Expenditure | $40 |
| Nonreciprocal Transfer out to DSF | $125 | Deferred Outflow of Resources | $72 |
| Supplies Inventory | $21 | Fund Balance, beginning | $45 |
| Supplies Expenditure | $90 | Sales Tax Revenue | $190 |
| Utilities Expenditure | $6 | Salary and Wage Expenditures | $452 |
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Financial Accounting
Authors: Walter Harrison, Wendy Tietz, C. Thomas, Greg Berberich, Catherine Seguin
7th Canadian Edition
0135433061, 9780135433065
