11 The following information pertains to the City of Williamson for 2020, its first year of legal existence. For convenience, assume that all transactions are for the general fund, which has three separate functions: general government, public safety, and health and sanitation. nts Receipts: Property taxes Franchise taxes Charges for general government services $450,000 45,600 6,000 eBook Charges for public safety services 3,300 Charges for health and sanitation services 42,300 Issued long-term note payable Print 301,000 Receivables at end of year: references Property taxes (90% estimated to be collectible) 104,800 Payments: Salary: General government Public safety Health and sanitation Rent: 70,950 41,700 29,800 General government Public safety Health and sanitation Maintenance: 20,300 22,100 4,500 General government 22,400 Public safety 5,400 Health and sanitation 10,800 Insurance: General government 10,200 Public safety ($4,800 still prepaid at end of year) 15,000 Health and sanitation 19,600 Interest on debt 24,080 Principal payment on debt 6,020 Storage shed 191,000 Equipment 110,000 Supplies (20% still held) (public safety) 22,200 Investments 99,000 Mc Ordered but not received: Ordered but not received: Equipment 13,000 Liabilities, all of which are due in one month at end of year: Salaries: General government 5,700 Public safety Health and sanitation 6,900 10,500 Compensated absences (such as vacations and sick days) legally owed to general government workers at year-end total $14,000. These amounts will not be taken by the employees until so late in 2021 that the payment is not viewed as requiring 2020 current financial resources. The city received a piece of art this year as a donation. It is valued at $21,300. The city plans to use it for general government purposes. The gift has no eligibility requirements. The city chose not to capitalize this property. General government activities use the storage shed that was acquired this year. It is depreciated over a 10-year period using the straight-line method with no residual value. The city uses the equipment for health and sanitation and depreciates it using the straight- line method over five years with no residual value. The investments are valued at $114,300 at the end of the year. For the equipment that was ordered but not yet received, the City Council (the highest decision-making body in the government) voted to honor the commitment when the equipment eventually arrives. a-1. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. a-2. Prepare a statement of net position for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume that the city applies the consumption method. b-2. Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. < Prev 11 of 14 Next > Assume that the city applies the consumption method. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B1 Req B2 Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the y CITY OF WILLIAMSON Statement of Activities For Year Ended December 31, 2020 Program Revenues Functions/Programs Expenses Charges for Services Operating Grants and Contributions Contributions Net (Expense) Revenue and Changes in Net Position Governmental Capital Grants and Activities Business- type Activities Governmental activities Total Total governmental activities $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 General revenues: