Following is the government-wide adjusted trial balance for the Town of Trinketville as of June 30, 2009, the end of the fiscal year. The adjustments needed to convert accounting information from the current financial resources measurement focus and modified accrual basis of accounting to the economic resources measurement focus and accrual basis of accounting have been made.

The Town government performs three functions, general government, public safety and roads and bridges. The Town has no business-type activities nor any component units. Program revenues include charges for services (related to the general government and public safety functions), operating grants (for public safety) and capital grants (for roads and bridges). General revenue sources are property taxes, other taxes, investment revenues, and miscellaneous revenues.

Using this information, prepare in good form (a) the government-wide statement of net assets (in classified format), and (b) the government-wide statement of activities as of, and for the year ended, June 30, 2009. There are no restricted assets or liabilities; the long-term debt (both portions) is the only debt related to the Town=s capital assets. (20 pts)

Town of Trinketville Government-Wide Adjusted Trial Balance June 30, 2009
Cash and investments.........................................................................................................................................	$380,500
Taxes receivable, net.............................................................................................................................................	871,000
Accounts receivable, net....................................................................................................................................	189,000
Inventories....................................................................................................................................................................	74,950
Other assets...............................................................................................................................................................	18,900
Capital assets.............................................................................................................................................................	20,000,000
Accumulated depreciation, capital assets.............................................................................................		$10,500,000
Accounts payable.....................................................................................................................................................		87,500
Deferred revenues..................................................................................................................................................		144,000
Current portion of long-term debt.........................................................................................................		100,000
Noncurrent portion of long-term debt.................................................................................................		400,000
Net assets.....................................................................................................................................................................		10,000,000
RevenuesBproperty taxes.................................................................................................................................		3,650,000
Revenues--other taxes.........................................................................................................................................		417,000
Investment revenues.............................................................................................................................................		94,500
Miscellaneous revenues......................................................................................................................................		61,350
Program revenuesBcharges for servicesBgeneral govt..........................................................		350,000
Program revenuesBcharges for services B public safety.......................................................		30,000
Program revenuesB public safetyBoperating grants.................................................................		275,000
Program revsBroads and bridgesBcapital grants........................................................................		1,050,000
General government expenses......................................................................................................................	1,000,000
Public safety expenses.........................................................................................................................................	2,500,000
Roads and bridges expenses..........................................................................................................................	2,100,000
Interest expense on long-term debt.........................................................................................................	25,000
Totals...............................................................................................................................................................................	$27,159,350	$27,159,350