Exercise 8-8 (Algo) The following information is available for the preparation of the government-wide financial statements...

Transcribed Image Text:

Exercise 8-8 (Algo) The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020: Expenses: General government Public safety Public works Health and sanitation $13,460,000 27,960,000 13,210,000 7,030,000 Culture and recreation Interest on long-term debt, governmental type Water and sewer system Parking system Revenues: Charges for services, general government Charges for services, public safety Operating grant, public safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, parking system Property taxes Sales taxes Investment earnings, business-type Special item-gain on sale of unused land, governmental type Transfer from business-type activities to governmental activities Net position, July 1, 2019, governmental activities Net position, July 1, 2019, business-type activities 5,139,000 841,000 12,490,000 470,000 1,512,000 242,300 921,100 2,718,200 1,395,700 2,535,100 13,364,400 446,600 31,206,000 23,824,000 373,600 1,436,400 805,300 9,433,300 2,646,300 From the above information, prepare a Statement of Activities for the City of Northern Pines for the year ended June 30, 2020. Northern Pines has no component units. (Negative amounts should be indicated by a minus sign.) Exercise 8-8 (Algo) The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020: Expenses: General government Public safety Public works Health and sanitation $13,460,000 27,960,000 13,210,000 7,030,000 Culture and recreation Interest on long-term debt, governmental type Water and sewer system Parking system Revenues: Charges for services, general government Charges for services, public safety Operating grant, public safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, parking system Property taxes Sales taxes Investment earnings, business-type Special item-gain on sale of unused land, governmental type Transfer from business-type activities to governmental activities Net position, July 1, 2019, governmental activities Net position, July 1, 2019, business-type activities 5,139,000 841,000 12,490,000 470,000 1,512,000 242,300 921,100 2,718,200 1,395,700 2,535,100 13,364,400 446,600 31,206,000 23,824,000 373,600 1,436,400 805,300 9,433,300 2,646,300 From the above information, prepare a Statement of Activities for the City of Northern Pines for the year ended June 30, 2020. Northern Pines has no component units. (Negative amounts should be indicated by a minus sign.)