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answer all a-1,a-2,b-1, & b-2 for thumbs up what more information??? EVERYTHING IS POSTED!!! The City of Bernard starts the year of 2017 with the
answer all a-1,a-2,b-1, & b-2 for thumbs up
what more information??? EVERYTHING IS POSTED!!!
The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $26,500 and investments of $85,250. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $320,000 and related long-term debt of $256,000. 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: $652.000 100,400 21,000 17,500 8,500 5,400 38,200 8,150 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 ($15,600 is expected to be uncollectible) Payments : Salary: General government Public safety Public works Health and sanitation (all from grant) Tiine. 36,000 222,000 102,150 151,500 137,500 116,500 86,000 31,500 86,000 31,500 12,600 16,850 13,000 6,300 31,900 18,800 6,000 6,600 Public works Health and sanitation (all 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 Public safety Public works Health and sanitation Interest on previous debt Principal payment on previous debt Interest on new debt Building (public works) Equipment (public safety) Public works supplies (308 still held) Investments Ordered but not received: Equipment Supplies Due at end of year: Salaries: General government Public safety Public works 19,000 10,600 10,900 11,350 25,600 17,500 19,980 240,000 82,000 29,000 131,000 45,250 9,400 21,900 18,800 6,000 On the last day of the year, the city borrowed $67,000 from a local bank and used that money to buy a truck. The first payment on the loan (plus interest) will be made at the end of the next year. The city started a landfill this year that it is recording within its general fund. It is included as a public works function. Closure costs today would be $296,500 although the landfill is not expected to be filled for nine more years. The city has incurred no costs to date although the landfill is now 15 percent filled. For the equipment and supplies that have been ordered but not yet received, the City Council (the highest decision-making body in the government) has voted to honor the commitment when the items are received The new building is being depreciated over 20 years using the straight-line method and no salvage value, whereas depreciation of the equipment is similar except that its life is only 10 years. Assume the city records a full year's depreciation in the year of acquisition The investments are valued at $138,300 at year-end. a-1. Prepare a statement of activities for governmental activities for December 31, 2017, and the year then ended. a-2. Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. b-2. 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. Req A1 Reg A2 Req B1 Req B2 Prepare a statement of activities for governmental activities for December 31, 2017, and the year then be deducted should be indicated by a minus sign.) CITY OF BERNARD Statement of Activities For Year Ended December 31, 2017 Program Revenues Charges for Grants and Expenses Services Contributions Net (Expense) Revenue and Changes in Net Position Governmental Total Activities Functions/Programs Governmental activities: 0 $ 0 $ 0 $ 0 $ 0 Total governmental activities General revenues: Governmental activities: $ 0 $ 0 $ 0 $ 0 $ Total governmental activities General revenues: $ 0 $ Total general revenues Change in net position: Change during 2017 $ 0 0 0 $ 0 Req A1 Req A2 Req B1 Req B2 Prepare a statement of net position for governmental activities for December 31, 2017 CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets: es $ 0 $ 0 Total current assets Capital assets: Capital assets: Total assets $ 0 $ 0 Liabilities: Current liabilities: Noncurrent liabilities: Total liabilities $ 0 $ 0 Net position: Homework A Saved Reg A1 Req A2 Req B1 Req B2 Prepare a statement of revenues, expenditures, and other changes in fund 2017, and the year then ended. Assume that the purchases method is being CITY OF BERNARD Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues: Total $ 0 Expenditures: Current Step by Step Solution
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