i am asking for chapter 13- financial tatio ststements #'s 1-8

Problem - City of Monroe 4. Prepare, in good form, a Statement of Net position for the City of Monroe as of December 31, 2017. Group all capital assets, net of depreciation. Include a breakdown in the Net position section for (a) capital assets, net of related debt, (b) restricted, and (c) unrestricted. For purposes of classifying net position for the governmental activities, assume: For the governmental activities net position invested in capital assets, net of related debt, the related debt includes the bonds payable, the premium o bonds payable, and the advance from the water utility fund. The special revenue fund resources are restricted by the granting agency for street and highway maintenance. Assume $204.500 are the only restricted resources in the governmental activities. 5. Prepare the reconciliation necessary to convert from the fund balance reported in the governmental funds Balance Sheet to the net position in the government-wide Statement of Net position. 6. Prepare the reconciliation necessary to convert from the change in fund balances in the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the change in net position in the government-wide Statement of Activities. Chapter 13-Financial Statement Analysis Assemble the financial statements prepared for the City of Monroe. These financial statements will be in the solutions to Exercises 5-C, 6-C, 7-C, and 8-C. Assume a population of 30,000 and fair value of property in the amount of $350 million. Compute the following ratios, following the guidance used for the Village of Elizabeth in this chapter: (1) Financial Position - Governmental Activities (2) Financial Position - General Fund. (3) Quick Ration - Governmental Activities (4) Leverage -Primary Government (5) Debt Coverage - Enterprise Funds (6) Debt Service to Total Expenditures (7) Debt per Capital - Primary Government (8) Debt to Assessed Value of Property - Primary Government Continuous Problem-City of Monroe b Post the entries to the City Jail Construction Fund general ledger. c Prepare and post an entry closing all nominal accounts to Fund Balance. 5-C. Part 2. Existing Debt Service Fund Transactions The City Hall Debt Service Fund of the City of Monroe has been open for five years; it was created to service an $16,000,000, 3 percent tax-supported bond issue. As of December 31, 2016, this serial bond issue had a balance of $12,000,000. Semiannual interest payments are made on January 1 and July 1, and a principal payment of $400,000 is due on January 1 and July 1 of each year. As this is a regular serial bond debt service fund, the only accounts with balances as of January 1, 2017, were Cash with Fiscal Agent and Fund Balance-Assigned for Debt Service, each with balances of $580,000. (Revenues were raised and collected in cash in 2016 in order to be able to pay bond principal and interest due on January 1, 2017.) The government chose not to accrue interest payable. Required a Open a general journal for the City Hall Debt Service Fund and prepare journal entries for the following transactions. Control accounts are not necessary (1) The fiscal agent reported that $180,000 in checks had been mailed to bondholders for interest due on January 1, and $400,000 in checks were mailed for bonds maturing that day. (2) Cash in the amount of $574,000 was received from the General Fund on June 30 and was transferred to the fiscal agent. (3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest of $ 174,000 due that day and $400,000 in checks were mailed for bonds maturing that day. (4) Cash in the amount of $568,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for the interest and principal due on January 1 (next fiscal year). The government elected to not accrue the interest or principal at year-end. b. Post the entries to the City Hall Debt Service Fund ledger (t-accounts). c. Prepare and post an entry closing all nominal accounts to Fund Balance. Continuous Problem-Ciry of Monroe 5-C. Part 3. New Debt Service Fund Transactions On the advice of the city attorney, a City Jail Debt Service Fund is opened to account for debt service transactions related to the bond issue sold on January 1, 2017 (see Part 1). Required a Open a general journal for the City Jail Debt Service Fund. Record the following transactions, as necessary. Control accounts are not necessary (1) The premium described in transaction 1 of Part 1 was received as a transfer from the capital projects fund. (2) Cash in the amount of $160,000 was received from the General Fund on June 30 and was transferred to the fiscal agent. (3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest due that day. (4) The transfer described in part c of Part 1 was received. (5) Cash in the amount of $360,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for interest and principal payments due on January 1 (next fiscal year). The government elected to not accrue the interest at year-end. (6) $ 200,000 of the remaining cash on hand was invested. b. Post the entries to the City Jail Debt Service Fund ledger (t-accounts). c. Prepare and post an entry closing all nominal accounts to Fund Balance. Assume any remaining net resources are classified as Fund Balance - Assigned for Debt Service, 5-C. Part 4. Governmental Funds Financial Statements Required a Prepare a Balance Sheet for the governmental funds for the City of Monroe as of December 31, 2017. Include the General Fund, the Street-and Highway Fund (P4-C), the City Hall Debt Service Fund, and the City Jail Debt Service Fund. Use the balances computed in 4-C for the General Fund and special revenue fund portions of this statement b.Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balances for the governmental funds for the City of Monroe for the Year Ended December 31, 2017 Include the same funds as listed in requirement a plus the City Jail Construction Fund. Continuoss Problem-Citr of Monroe Chapter 6-Proprietary Funds 6-C Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of Monroe had the following account balances as of January 1, 2017 Debits Credits $28,000 Cash Due from other fands Inventory of supplies Land 27,000 27,500 18,000 84,000 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Advance from water utility fund Net position $30,000 46,000 25,000 19,000 30,000 126,500 $230,500 $230,500 Totals Required: a Open a general journal for the City of Monroe Stores and Service Fund and record the following transactions. (1)A budget was prepared for FY 2017. It was estimated that the price charged other departments for supplies should be 1.25 % of cost to achieve the desired breakeven for the year. (2) The amount due from other funds as of January 1, 2017, was collected in full. (3) During the year, supplies were ordered and received in the amount of $307,000. This amount was posted to accounts payable. (4) S15,000 of the advance from the Water Utility Fund, originally provided for construction, was repaid. No interest is charged. (5) During the year, supplies costing $250,560 were issued to the General Fund, and supplies costing $46,400 were issued to the Water Utility Fund. These funds were charged based on the previously determined markup ($ 313,200 to General Fund and 58,000 to the Water Utility Fund). (6) Operating expenses, exclusive of depreciation, were recorded in accounts payable as follows: Purchasing, $15,000; Warehousing, $16,900; Delivery, $17,500; and dministrative, $9,000. Aamunistrativ (7) Cash was received from the General Fund in the amount of $310,000 and from the Water Utility Fund in the amount of $50,000. (8) Accounts payable were paid in the amount of $365,000. (9) Depreciation in the amount of $10,000 was recorded for buildings and $4,600 for equipment. of Monro Contimos Prablem-Cit D Bond interest (6%) in the amount of $162.500 was paid () Interest in the amount of S17,000 (included in 7 above) was reclassified to Construction Work in Progress (9) Construction projects at the water treatment plant (reflected in the beginning balance of construction in process) were completed in the amount of $203,000, and the assets were placed in service. Payments for these amounts were made in the previous year (no effect on 2017 Statement of Cash Flows). (10) Collection efforts were discontinued on bills totaling $2,890. The unpaid receivables were written off an An analysis of customer receivable balances indicated the Estimated Uncollectible Accounts needed to be increased by $5,500. (12) Payment of accounts payable amounted to $302,000. Payments of payroll taxes totaled $95,200. (13) Supplies transferred from the Stores and Services Fund amounted to S58,000. Cash in the amount of $50,000 was paid to the Stores and Services Fund for supplies. (14) Depreciation expense for the year was computed to be $282,000. (15) In accord with the revenue bond indenture, $25,000 cash was transferred from operating cash to restricted assets. b. Post the entries to the Water and Sewer Fund ledger (t-accounts). c Prepare and post an entry closing all nominal accounts to Net position. Compute the balance in the net position accounts, assuming the only restricted assets are those identified with the bond indenture and the outstanding bonds are associated with the purchase of capital assets. 6-C. art 3. Proprietary Fund Financial Statements Required Prepare, in good form, for the proprietary funds accounted for in Parts 1 and 2, the following: (1) A Statement of Revenues, Expenses, and Changes in Fund Net position for the Year Ended December 31, 2017. (2) A Statement of Net position, as of December 31, 2017. (3) A Statement of Cash Flows for the Year Ended December 31, 2017. Include restricted assets as a part of cash and cash equivalents for this statement. (Assume any materials and labor attributable to construction in process were paid by year end). 11 e Contimuoss Problem-Cin of Monroe Debits Credits $137,000 75,000 5,300,000 2,790,000 Cash Accrued Interest Receivable Investments: Bonds Investments Common Stock Accounts Pavable Net position Held in Trust for Employee Benefits Totals $27,000 8,275.000 $ 8.302,000 $8,302,000 Required a Open a genceral journal for the City of Monroe Police Department Pension Trust Fund and record the following transactions for the year ending December 31, 2017: (1) Member contributions were received in the amount of $400,000. The City General Fund contributed the same amount. (2) Interest was received in the amount of $212,000, including the accrued interest receivable at the beginning of the year. The interest accrual at year end amounted to $86,000. (3) During the year, common stock dividends amounted to $125,000. (4) Investments were made during the year in common stock in the amount of $650,000. (5) Annuity benefits in the amount of $325,400, disability benefits of $ 82,020 and refunds to nonvested terminated employees of $39,800 were recorded as liabilities. (6) Accounts payable, in the amount of $460,700, were paid in cash. (7) During the year, common stock valued at $505,000 was sold for $506,800. A. portion of these funds, $500,000 were invested in common stock of a different. company. (8) At year-end, the market value of investments in bonds increased by $7,750; the market value of investments in stocks decreased by $3,250. b. Post the entries to the Police Department Pension Trust ledger (t-accounts). c. Prepare and post an entry closing all nominal accounts to Net position. 7-C. Part 3. Fiduciary Fund Financial Statements Required Using the balances from Parts 1 and 2 prepare the following: 1. Statement of Changes in Fiduciary Net position. 2. Statement of Fiduciary Net position ePhmental funds Stalell to the change in net position in tIU Tulties. alances Chapter 13-Financial Statement Analysis Assemble the financial statements prepared for the City of Monroe. These financial statements will be in the solutions to Exercises 5-C, 6-C, 7-C, and 8-C. Assume a population of 30,000 and fair value of property in the amount of $350 million. Compute the following ratios, following the guidan ce used for the Village of Elizabeth in this chapter: (1) Financial Position-Governmental Activities (2) Financial Position-General Fund. (3) Quick Ration - Governmental Activities (4) Leverage- Primary Government (5) Debt Coverage - Enterprise Funds (6) Debt Service to Total Expenditures (7) Debt per Capital - Primary Government (8) Debt to Assessed Value of Property - Primary Government Problem - City of Monroe 4. Prepare, in good form, a Statement of Net position for the City of Monroe as of December 31, 2017. Group all capital assets, net of depreciation. Include a breakdown in the Net position section for (a) capital assets, net of related debt, (b) restricted, and (c) unrestricted. For purposes of classifying net position for the governmental activities, assume: For the governmental activities net position invested in capital assets, net of related debt, the related debt includes the bonds payable, the premium o bonds payable, and the advance from the water utility fund. The special revenue fund resources are restricted by the granting agency for street and highway maintenance. Assume $204.500 are the only restricted resources in the governmental activities. 5. Prepare the reconciliation necessary to convert from the fund balance reported in the governmental funds Balance Sheet to the net position in the government-wide Statement of Net position. 6. Prepare the reconciliation necessary to convert from the change in fund balances in the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the change in net position in the government-wide Statement of Activities. Chapter 13-Financial Statement Analysis Assemble the financial statements prepared for the City of Monroe. These financial statements will be in the solutions to Exercises 5-C, 6-C, 7-C, and 8-C. Assume a population of 30,000 and fair value of property in the amount of $350 million. Compute the following ratios, following the guidance used for the Village of Elizabeth in this chapter: (1) Financial Position - Governmental Activities (2) Financial Position - General Fund. (3) Quick Ration - Governmental Activities (4) Leverage -Primary Government (5) Debt Coverage - Enterprise Funds (6) Debt Service to Total Expenditures (7) Debt per Capital - Primary Government (8) Debt to Assessed Value of Property - Primary Government Continuous Problem-City of Monroe b Post the entries to the City Jail Construction Fund general ledger. c Prepare and post an entry closing all nominal accounts to Fund Balance. 5-C. Part 2. Existing Debt Service Fund Transactions The City Hall Debt Service Fund of the City of Monroe has been open for five years; it was created to service an $16,000,000, 3 percent tax-supported bond issue. As of December 31, 2016, this serial bond issue had a balance of $12,000,000. Semiannual interest payments are made on January 1 and July 1, and a principal payment of $400,000 is due on January 1 and July 1 of each year. As this is a regular serial bond debt service fund, the only accounts with balances as of January 1, 2017, were Cash with Fiscal Agent and Fund Balance-Assigned for Debt Service, each with balances of $580,000. (Revenues were raised and collected in cash in 2016 in order to be able to pay bond principal and interest due on January 1, 2017.) The government chose not to accrue interest payable. Required a Open a general journal for the City Hall Debt Service Fund and prepare journal entries for the following transactions. Control accounts are not necessary (1) The fiscal agent reported that $180,000 in checks had been mailed to bondholders for interest due on January 1, and $400,000 in checks were mailed for bonds maturing that day. (2) Cash in the amount of $574,000 was received from the General Fund on June 30 and was transferred to the fiscal agent. (3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest of $ 174,000 due that day and $400,000 in checks were mailed for bonds maturing that day. (4) Cash in the amount of $568,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for the interest and principal due on January 1 (next fiscal year). The government elected to not accrue the interest or principal at year-end. b. Post the entries to the City Hall Debt Service Fund ledger (t-accounts). c. Prepare and post an entry closing all nominal accounts to Fund Balance. Continuous Problem-Ciry of Monroe 5-C. Part 3. New Debt Service Fund Transactions On the advice of the city attorney, a City Jail Debt Service Fund is opened to account for debt service transactions related to the bond issue sold on January 1, 2017 (see Part 1). Required a Open a general journal for the City Jail Debt Service Fund. Record the following transactions, as necessary. Control accounts are not necessary (1) The premium described in transaction 1 of Part 1 was received as a transfer from the capital projects fund. (2) Cash in the amount of $160,000 was received from the General Fund on June 30 and was transferred to the fiscal agent. (3) The fiscal agent reported that checks dated July 1 had been mailed to bondholders for interest due that day. (4) The transfer described in part c of Part 1 was received. (5) Cash in the amount of $360,000 was received from the General Fund on December 31 and transferred to the fiscal agent to be used for interest and principal payments due on January 1 (next fiscal year). The government elected to not accrue the interest at year-end. (6) $ 200,000 of the remaining cash on hand was invested. b. Post the entries to the City Jail Debt Service Fund ledger (t-accounts). c. Prepare and post an entry closing all nominal accounts to Fund Balance. Assume any remaining net resources are classified as Fund Balance - Assigned for Debt Service, 5-C. Part 4. Governmental Funds Financial Statements Required a Prepare a Balance Sheet for the governmental funds for the City of Monroe as of December 31, 2017. Include the General Fund, the Street-and Highway Fund (P4-C), the City Hall Debt Service Fund, and the City Jail Debt Service Fund. Use the balances computed in 4-C for the General Fund and special revenue fund portions of this statement b.Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balances for the governmental funds for the City of Monroe for the Year Ended December 31, 2017 Include the same funds as listed in requirement a plus the City Jail Construction Fund. Continuoss Problem-Citr of Monroe Chapter 6-Proprietary Funds 6-C Part 1. Internal Service Fund Transactions The Stores and Service Fund of the City of Monroe had the following account balances as of January 1, 2017 Debits Credits $28,000 Cash Due from other fands Inventory of supplies Land 27,000 27,500 18,000 84,000 Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Accounts payable Advance from water utility fund Net position $30,000 46,000 25,000 19,000 30,000 126,500 $230,500 $230,500 Totals Required: a Open a general journal for the City of Monroe Stores and Service Fund and record the following transactions. (1)A budget was prepared for FY 2017. It was estimated that the price charged other departments for supplies should be 1.25 % of cost to achieve the desired breakeven for the year. (2) The amount due from other funds as of January 1, 2017, was collected in full. (3) During the year, supplies were ordered and received in the amount of $307,000. This amount was posted to accounts payable. (4) S15,000 of the advance from the Water Utility Fund, originally provided for construction, was repaid. No interest is charged. (5) During the year, supplies costing $250,560 were issued to the General Fund, and supplies costing $46,400 were issued to the Water Utility Fund. These funds were charged based on the previously determined markup ($ 313,200 to General Fund and 58,000 to the Water Utility Fund). (6) Operating expenses, exclusive of depreciation, were recorded in accounts payable as follows: Purchasing, $15,000; Warehousing, $16,900; Delivery, $17,500; and dministrative, $9,000. Aamunistrativ (7) Cash was received from the General Fund in the amount of $310,000 and from the Water Utility Fund in the amount of $50,000. (8) Accounts payable were paid in the amount of $365,000. (9) Depreciation in the amount of $10,000 was recorded for buildings and $4,600 for equipment. of Monro Contimos Prablem-Cit D Bond interest (6%) in the amount of $162.500 was paid () Interest in the amount of S17,000 (included in 7 above) was reclassified to Construction Work in Progress (9) Construction projects at the water treatment plant (reflected in the beginning balance of construction in process) were completed in the amount of $203,000, and the assets were placed in service. Payments for these amounts were made in the previous year (no effect on 2017 Statement of Cash Flows). (10) Collection efforts were discontinued on bills totaling $2,890. The unpaid receivables were written off an An analysis of customer receivable balances indicated the Estimated Uncollectible Accounts needed to be increased by $5,500. (12) Payment of accounts payable amounted to $302,000. Payments of payroll taxes totaled $95,200. (13) Supplies transferred from the Stores and Services Fund amounted to S58,000. Cash in the amount of $50,000 was paid to the Stores and Services Fund for supplies. (14) Depreciation expense for the year was computed to be $282,000. (15) In accord with the revenue bond indenture, $25,000 cash was transferred from operating cash to restricted assets. b. Post the entries to the Water and Sewer Fund ledger (t-accounts). c Prepare and post an entry closing all nominal accounts to Net position. Compute the balance in the net position accounts, assuming the only restricted assets are those identified with the bond indenture and the outstanding bonds are associated with the purchase of capital assets. 6-C. art 3. Proprietary Fund Financial Statements Required Prepare, in good form, for the proprietary funds accounted for in Parts 1 and 2, the following: (1) A Statement of Revenues, Expenses, and Changes in Fund Net position for the Year Ended December 31, 2017. (2) A Statement of Net position, as of December 31, 2017. (3) A Statement of Cash Flows for the Year Ended December 31, 2017. Include restricted assets as a part of cash and cash equivalents for this statement. (Assume any materials and labor attributable to construction in process were paid by year end). 11 e Contimuoss Problem-Cin of Monroe Debits Credits $137,000 75,000 5,300,000 2,790,000 Cash Accrued Interest Receivable Investments: Bonds Investments Common Stock Accounts Pavable Net position Held in Trust for Employee Benefits Totals $27,000 8,275.000 $ 8.302,000 $8,302,000 Required a Open a genceral journal for the City of Monroe Police Department Pension Trust Fund and record the following transactions for the year ending December 31, 2017: (1) Member contributions were received in the amount of $400,000. The City General Fund contributed the same amount. (2) Interest was received in the amount of $212,000, including the accrued interest receivable at the beginning of the year. The interest accrual at year end amounted to $86,000. (3) During the year, common stock dividends amounted to $125,000. (4) Investments were made during the year in common stock in the amount of $650,000. (5) Annuity benefits in the amount of $325,400, disability benefits of $ 82,020 and refunds to nonvested terminated employees of $39,800 were recorded as liabilities. (6) Accounts payable, in the amount of $460,700, were paid in cash. (7) During the year, common stock valued at $505,000 was sold for $506,800. A. portion of these funds, $500,000 were invested in common stock of a different. company. (8) At year-end, the market value of investments in bonds increased by $7,750; the market value of investments in stocks decreased by $3,250. b. Post the entries to the Police Department Pension Trust ledger (t-accounts). c. Prepare and post an entry closing all nominal accounts to Net position. 7-C. Part 3. Fiduciary Fund Financial Statements Required Using the balances from Parts 1 and 2 prepare the following: 1. Statement of Changes in Fiduciary Net position. 2. Statement of Fiduciary Net position ePhmental funds Stalell to the change in net position in tIU Tulties. alances Chapter 13-Financial Statement Analysis Assemble the financial statements prepared for the City of Monroe. These financial statements will be in the solutions to Exercises 5-C, 6-C, 7-C, and 8-C. Assume a population of 30,000 and fair value of property in the amount of $350 million. Compute the following ratios, following the guidan ce used for the Village of Elizabeth in this chapter: (1) Financial Position-Governmental Activities (2) Financial Position-General Fund. (3) Quick Ration - Governmental Activities (4) Leverage- Primary Government (5) Debt Coverage - Enterprise Funds (6) Debt Service to Total Expenditures (7) Debt per Capital - Primary Government (8) Debt to Assessed Value of Property - Primary Government