17/11
The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $29,250 and investments of $72,000. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $381,000 and related long-term debt of $304,800. The building is being depreciated on the straight-line method over 10 years. The interest rate is 10 percent. The general fund has four separate functions: general government, public safety, public works, and health and sanitation. Other information includes the following: $533,800 185,000 30,000 24,400 8,100 5,400 34,500 8,800 28,000 212, eee 89,900 Receipts: Property taxes Sales taxes Dividend income Charges for general government services Charges for public safety services Charges for public works Charges for health and sanitation services Charges for landfill Grant to be used for salaries for health workers (no eligibility requirements) Issued long-term note payable Sold above investments Receivables at year-end: Property taxes ($12,100 is expected to be uncollectible) Payments: Salary: General government Public safety Public works Health and sanitation fall from grant) Utilities: General government Public safety Public works Health and sanitation Insurance: General government Public safety Public Works (all prepaid as of the end of the year) Health and sanitation Miscellaneous: General government 177,000 100,500 98,eee 85,000 23,888 10,800 19, 250 16,200 4,80e 32,100 15,600 8, 100 5,700 19,500 Req A1 Req A2 Req B1 Req B2 Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets: Total current assets Capital assets: $ 0 $ 0 $ 0 $ 0 Total assets Liabilities Current liabilities Total assets 0 $ 0 Liabilities: Current liabilities: Noncurrent liabilities: Total liabilities Net position: $ 0 $ 0 Total net position $ 0 Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req B1 Req B2 Prepare a statement of revenues, expenditures, and other changes in fund balances for the General Fund as of December 31, and the year then ended. Assume that the purchases method is being applied. 2017, CITY OF BERNARD Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues: $ 0 Total Expenditures Current 0 Total Expenditures: Current: Debt service: Capital outlay: $ 0 Total expenditures Excess (deficiency) of revenues over expenses Other financing sources: $ 0 Total other financing sources Net changes in fund balance 0 0 $ 0 Saved Req A1 Req A2 Req B1 Req B2 Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2017 General Fund Assets: 0 Total assets Liabilities and fund balances: Liabilities: Fund balances 0 Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then method is being applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2017 General Fund Assets: $ 0 Total assets Liabilities and fund balances: Liabilities: Fund balances: Total liabilities and fund balance 0 $ 0 Req A1 Req A2 Req B1 Req B2 Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets: Total current assets Capital assets: $ 0 $ 0 $ 0 $ 0 Total assets Liabilities Current liabilities Total assets 0 $ 0 Liabilities: Current liabilities: Noncurrent liabilities: Total liabilities Net position: $ 0 $ 0 Total net position $ 0 Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Req B1 Req B2 Prepare a statement of revenues, expenditures, and other changes in fund balances for the General Fund as of December 31, and the year then ended. Assume that the purchases method is being applied. 2017, CITY OF BERNARD Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues: $ 0 Total Expenditures Current 0 Total Expenditures: Current: Debt service: Capital outlay: $ 0 Total expenditures Excess (deficiency) of revenues over expenses Other financing sources: $ 0 Total other financing sources Net changes in fund balance 0 0 $ 0 Saved Req A1 Req A2 Req B1 Req B2 Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2017 General Fund Assets: 0 Total assets Liabilities and fund balances: Liabilities: Fund balances 0 Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then method is being applied. CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2017 General Fund Assets: $ 0 Total assets Liabilities and fund balances: Liabilities: Fund balances: Total liabilities and fund balance 0 $ 0
