13-8. For Simonsen Village (see Problems 12-4 and 12-5 from Chapter 12 see link below) (Hint: The reconciliations require you to determine what would differ under accrual accounting compared with modified accrual.) https://www.chegg.com/homework-help/questions-and-answers/12-5-start-year-government-long-term-assets-liabilities-fact-infrastructure-eg-roads-villa-q51986796?trackid=p7_HrPN2.

USE these templates to complete:

Simonsen Village
Balance Sheet
Governmental Funds
As of December 31, 2018
			Debt	Capital	Total
		General	Service	Projects	Governmental
		Fund	Fund	Fund	Funds
Assets and deferred outflows of resources
Cash				$	$0
Real estate taxes receivable, net					$0
State grants receivable					$0
Due from other funds			6,000		6,000
Total assets and deferred outflows of resources		$0	$6,000	$	$6,000
Liabilities, deferred inflows of resources, and fund balances
Liabilities and deferred inflows of resources:
Accounts payable			$	$	$0
Salaries payable					$0
Deferred tax revenue					$0
Due to debt service fund		6,000			$6,000
Total liabilities and deferred inflows of resources		$6,000			$6,000
Fund Balances:
Unassigned					$0
Total fund balances		$0	$0		$0
Total liabilities, deferred inflows of resources, and fund balances		$6,000	$0	$
	Reconciliation:
	Amounts reported for governmental activities in the statement of net position are different because:
	Taxes receivable that are not current financial resources are not included in fund balances above, but are included in net position in the statement of net position.				8000
	Inventory is treated on a purchases basis in the funds.				4,000
	Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds.
	Long-term liabilities are not due and payable in the current period and therefore are not reported in the funds.
	Net position of governmental activities				$12,000

Simonsen Village
Statement of Revenues, Expenditures, and Changes in Fund Balances
Governmental Funds
for the Year Ended December 31, 2018
		Debt	Capital	Total
	General	Service	Projects	Governmental
	Fund	Fund	Fund	Funds
Revenues
Real estate taxes				$0
Intergovernmentalgrants	100,000			100,000
Total revenues	$100,000			$100,000
Expenditures
Current:
General government				$0
Education				0
Public Works, Safety, & Sanitation				0
Debt service:
Principal				0
Interest		8,000		8,000
Capital outlay:				0