green shaded cells are from chapter 5 financial statements enter all amounts as positive numbers. the worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equity refr. account titles debits credits gov'tal fund balances adjustments & eliminations govern-mental funds adjusted internal service funds balances for gov't-wide stmts debits credits debits credits a type debit accounts in this column debits: type credit accounts in this column cash 541,400 541,400 541,400 cash with fiscal agent 760,000 760,000 760,000 investments 263,000 263,000 263,000 taxes receivable, net 457,500 457,500 457,500 interest receivable, net 16,850 16,850 16,850 inventories - - due from state govt. 557,500 557,500 557,500 due from other funds - - capital assets - - both rows - - expenditures (expenses) current - general govt. 1,649,000 1,649,000 1,649,000 public safety 3,066,900 3,066,900 3,066,900 highway and streets 2,481,900 2,481,900 2,481,900 sanitation 591,400 591,400 591,400 health 724,100 724,100 724,100 welfare 374,300 374,300 374,300 culture and recreation 917,300 917,300 917,300 compensated absences exp - - other expenditures (expenses) - - - debt service principal 800,000 800,000 800,000 - interest (expenditure/expense) 514,000 514,000 514,000 both rows - capital outlay 5,821,100 5,821,100 5,821,100 - depreciation - - other fin. uses - transfers out 1,868,700 1,868,700 1,868,700 - total debits 21,404,950 21,404,950 credits: accounts payable 263,800 263,800 263,800 due to other funds 40,200 40,200 40,200 accrued interest payable - - bonds payalbe both rows - - premium on bonds - - compensated absence payable - - advance from water utility fund - - deferred inflows: property taxes 17,500 17,500 17,500 accumulated depreciation both rows - - revenues - property taxes 6,846,000 6,846,000 6,846,000 sales taxes 2,938,000 2,938,000 2,938,000 interest 18,000 18,000 18,000 licenses & permits 800,000 800,000 800,000 miscellaneous 350,000 350,000 350,000 state grant for highway street expenses 1,067,500 1,067,500 1,067,500 capital grant- gen gov't 332,000 332,000 332,000 capital grant- public safety 1,335,000 1,335,000 1,335,000 - - - - other financing sources - - proceeds of bonds 4,000,000 4,000,000 4,000,000 premium on bonds 200,000 200,000 200,000 transfers in 1,868,700 1,868,700 1,868,700 net position at beginning of year - three rows 1,328,250 1,328,250 1,328,250 total credits 21,404,950 21,404,950 column totals: debits = credits ?? - - - - - -