I have attached a couple of problems for an advanced accounting. I downloaded the answer sheet, but it is still not helping me how to come up with the answer. Please help

Preparing Government-wide Financial Statements Circus City issued an 8%, 10-year $2,000,000 bond to build a monorail mass transit system. The city received $1,754,217 cash from the bond issuance on January 1, 2012. The bond yield is 10%. Interest is paid annually on December 31 of each year. Disclosure information about capital assets is reported below. Disclosure of Information about Capital Assets for the Year Ending December 31, 2012 Beginning Ending Governmental Activities Balance Additions Retirements Balance Land $500,000 $500,000 Building $760,000 $760,000 Machinery and Equipment $950,000 -$225,000 $725,000 Construction in Progress $1,500,000 $1,500,000 Infastructure $450,000 $450,000 Totals at historical Cost $2,660,000 $1,500,000 -$225,000 $3,935,000 Less accumulated depreciation Building -$190,000 -$59,150 -$249,150 Machinery and Equipment -$235,000 -$76,050 -$311,050 Infastructure -$50,000 -$33,800 $140,000 $56,200 Total accumulated depreciation -$475,000 -$169,000 $140,000 -$504,000 Governmental Activities capital assets, net $2,185,000 $1,331,000 -$85,000 $3,431,000 Depreciation expense charged to governmental activities as follows: Public Safety $55,000 General Government $72,000 Highways ans Streets $25,000 Sanitation $17,000 $169,000 Circus City's governmental funds financial statements are as follows: Circus City Governmental Funds Fund Balance Sheets at December 31, 2012 Capital Debt Total Projects Service Governmental Fund Fund Funds General Monorail Term Bond Assets Fund Fund Fund Cash $64,000 $300,000 $364,000 Interest Receivable 12,000 4,000 16,000 Investments 100,000 1,250,500 100,000 1,450,500 Property Tax Receivable 183,000 183,000 Total Assets $347,000 $1,562,500 $104,000 $2,013,500 Liabilities and Fund Balance Vouchers Payable Total Liabilities Fund Balances Unreserved Reserved for Encumbrances Debt Service Total fund Balance Total Liabilities and Fund Balances $73,000 $73,000 $50,000 $50,000 83,000 191,000 312,500 1,200,000 274,000 1,512,500 $347,000 $1,562,500 $0 $123,000 $123,000 395,500 1,391,000 104,000 104,000 104,000 1,890,500 $104,000 $2,013,500 Circus City Governmental Funds Statement of Revenues, Expendidutes, and Changes in Fund Balances for the Year Ended December 31, 2012 Capital Debt Total Projects Service Governmental Fund Fund Funds General Monorail Term Bond Fund Fund Revenues Property Taxes Licenses and Permits * State Granthighways and street Intergovernmentalstate grant Charges for Services (general government) Investment Earnings Total Revenue Expenditures Public Safety General Government Highway and Streets Sanitation Debt Service Interest Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures Other Financing Sources (Uses) Proceeds from Long-term Capital debt Transfers in Transfers out Total other Special Items Proceeds from sales of equipment Net Change in fund balance Fund Balance-beginning Fund balance-ending $525,000 150,000 $50,000 250,000 1,000,000 130,000 75,000 $1,130,000 $1,000,000 $500,000 $300,000 $130,000 70,000 1,000,000 1,500,000 1,500,000 130,000 -500,000 1,754,217 $575,000 150,000 0 250,000 0 1,000,000 130,000 75,000 $50,000 $2,180,000 $500,000 $300,000 $130,000 $70,000 $0 160,000 $160,000 $1,500,000 160,000 2,660,000 -110,000 -480,000 -160,000 -$160,000 $1,754,217 1,754,217 160,000 -160,000 $160,000 $1,754,217 115,000 $85,000 $1,254,217 189,000 258,283 $274,000 $1,512,500 115,000 $50,000 $1,389,217 54,000 501,283 $104,000 $1,890,500 160,000 * Revenues from licenses and permits are assigned to highways and streets ($100,000) and to the general government ($50,000). Required: Using the information above, prepare the statement of activities and the statement of net assets on a government-wide basis (using full accrual accounting). The beginning fund balance in the government-wide Statement of Net Assets is $2,686,283. Entries, Balance Sheet, Statement of Revenues, Expenditures, and Changes in Fund Balance The trial balance for the General Fund of the City of Monte Vista as of December 31, 2012, is presented here Cash Supplies Inventory Unreserved Fund Balance Reserve for Supplies Inventory Debit Credit $300,000 $75,000 $300,000 $75,000 $375,000 $375,000 Transactions of the General Fund for the year ended December 31, 2013, are summarized as follows: 1. The City Council adopted the following budget for 2013: Estimated Revenue Trasnfer from trust fund Appropriations Transfer to debt service fund $1,600,000 $50,000 $1,530,000 $80,000 2. Property taxes of $1,500,000 were levied, of which it is estimated that $30,000 will not be collected. 3. Purchase orders in the amount of $1,400,000 were placed with suppliers and other vendors. 4. Property taxes in the amount of $1,450,000 were collected. 5. Cash was received from the Trust Fund in the amount of $50,000. 6. Invoices in the amount of $1,380,000 were approved for payment. The amount originally encumbered for these invoices was $1,360,000. The invoices included $25,000 net of trade-in allowance for the purchase of a new minicomputer and $400,000 for supplies. The City received a trade-in-allowance of $4,000 on its old minicomputer, which had been purchased three years earlier for $16,000. At the time the old minicomputer was purchased, it was estimated that it would have a useful life of four years. The new minicomputer is expected to last at least six years. The City of Monte Vista uses the purchase method to account for supplies inventory. 7. Licenses and fees in the amount of $48,000 were collected. 8. Vouchers in the amount of $1,300,000 were paid. 9. Cash in the amount of $80,000 was transferred to the Debt Service Fund. 10. Supplies on hand at the end of the year amount to $100,000. Required: A. Prepare entries in general journal form to record the transactions of the General Fund for the year ended December 31, 2013. December 231, 2013 Revenue $3,200,000 Estimated Revenue Unreserved Fund Balance Appropriations Expeditures Encumbrances Unreserved Fund Balance $1,600,000 $1,600,000 0 Reserve for Emcumbrances 2013 Unreserved fund Balance Expendigures 2013 Transfers from other funds Unrserved Fund Balance transfers to other funds B. Prepare a preclosing trial balance for the General Fund as of December 31, 2013. C. Prepare the necessary closing entries for the General Fund for the year ended December 31, 2013. D. Prepare a balance sheet and a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2013. Preparing Government-wide Financial Statements Circus City issued an 8%, 10-year $2,000,000 bond to build a monorail mass transit system. The city received $1,754,217 cash from the bond issuance on January 1, 2012. The bond yield is 10%. Interest is paid annually on December 31 of each year. Disclosure information about capital assets is reported below. Disclosure of Information about Capital Assets for the Year Ending December 31, 2012 Beginning Ending Governmental Activities Balance Additions Retirements Balance Land $500,000 $500,000 Building $760,000 $760,000 Machinery and Equipment $950,000 -$225,000 $725,000 Construction in Progress $1,500,000 $1,500,000 Infastructure $450,000 $450,000 Totals at historical Cost $2,660,000 $1,500,000 -$225,000 $3,935,000 Less accumulated depreciation Building -$190,000 -$59,150 -$249,150 Machinery and Equipment -$235,000 -$76,050 -$311,050 Infastructure -$50,000 -$33,800 $140,000 $56,200 Total accumulated depreciation -$475,000 -$169,000 $140,000 -$504,000 Governmental Activities capital assets, net $2,185,000 $1,331,000 -$85,000 $3,431,000 Depreciation expense charged to governmental activities as follows: Public Safety $55,000 General Government $72,000 Highways ans Streets $25,000 Sanitation $17,000 $169,000 Circus City's governmental funds financial statements are as follows: Circus City Governmental Funds Fund Balance Sheets at December 31, 2012 Capital Debt Total Projects Service Governmental Fund Fund Funds General Monorail Term Bond Assets Fund Fund Fund Cash $64,000 $300,000 $364,000 Interest Receivable 12,000 4,000 16,000 Investments 100,000 1,250,500 100,000 1,450,500 Property Tax Receivable 183,000 183,000 Total Assets $347,000 $1,562,500 $104,000 $2,013,500 Liabilities and Fund Balance Vouchers Payable Total Liabilities Fund Balances Unreserved Reserved for Encumbrances Debt Service Total fund Balance Total Liabilities and Fund Balances $73,000 $73,000 $50,000 $50,000 83,000 191,000 312,500 1,200,000 274,000 1,512,500 $347,000 $1,562,500 $0 $123,000 $123,000 395,500 1,391,000 104,000 104,000 104,000 1,890,500 $104,000 $2,013,500 Circus City Governmental Funds Statement of Revenues, Expendidutes, and Changes in Fund Balances for the Year Ended December 31, 2012 Capital Debt Total Projects Service Governmental Fund Fund Funds General Monorail Term Bond Fund Fund Revenues Property Taxes Licenses and Permits * State Granthighways and street Intergovernmentalstate grant Charges for Services (general government) Investment Earnings Total Revenue Expenditures Public Safety General Government Highway and Streets Sanitation Debt Service Interest Capital Outlay Total Expenditures Excess (deficiency) of revenues over expenditures Other Financing Sources (Uses) Proceeds from Long-term Capital debt Transfers in Transfers out Total other Special Items Proceeds from sales of equipment Net Change in fund balance Fund Balance-beginning Fund balance-ending $525,000 150,000 $50,000 250,000 1,000,000 130,000 75,000 $1,130,000 $1,000,000 $500,000 $300,000 $130,000 70,000 1,000,000 1,500,000 1,500,000 130,000 -500,000 1,754,217 $575,000 150,000 0 250,000 0 1,000,000 130,000 75,000 $50,000 $2,180,000 $500,000 $300,000 $130,000 $70,000 $0 160,000 $160,000 $1,500,000 160,000 2,660,000 -110,000 -480,000 -160,000 -$160,000 $1,754,217 1,754,217 160,000 -160,000 $160,000 $1,754,217 115,000 $85,000 $1,254,217 189,000 258,283 $274,000 $1,512,500 115,000 $50,000 $1,389,217 54,000 501,283 $104,000 $1,890,500 160,000 * Revenues from licenses and permits are assigned to highways and streets ($100,000) and to the general government ($50,000). Required: Using the information above, prepare the statement of activities and the statement of net assets on a government-wide basis (using full accrual accounting). The beginning fund balance in the government-wide Statement of Net Assets is $2,686,283. Entries, Balance Sheet, Statement of Revenues, Expenditures, and Changes in Fund Balance The trial balance for the General Fund of the City of Monte Vista as of December 31, 2012, is presented here Cash Supplies Inventory Unreserved Fund Balance Reserve for Supplies Inventory Debit Credit $300,000 $75,000 $300,000 $75,000 $375,000 $375,000 Transactions of the General Fund for the year ended December 31, 2013, are summarized as follows: 1. The City Council adopted the following budget for 2013: Estimated Revenue Trasnfer from trust fund Appropriations Transfer to debt service fund $1,600,000 $50,000 $1,530,000 $80,000 2. Property taxes of $1,500,000 were levied, of which it is estimated that $30,000 will not be collected. 3. Purchase orders in the amount of $1,400,000 were placed with suppliers and other vendors. 4. Property taxes in the amount of $1,450,000 were collected. 5. Cash was received from the Trust Fund in the amount of $50,000. 6. Invoices in the amount of $1,380,000 were approved for payment. The amount originally encumbered for these invoices was $1,360,000. The invoices included $25,000 net of trade-in allowance for the purchase of a new minicomputer and $400,000 for supplies. The City received a trade-in-allowance of $4,000 on its old minicomputer, which had been purchased three years earlier for $16,000. At the time the old minicomputer was purchased, it was estimated that it would have a useful life of four years. The new minicomputer is expected to last at least six years. The City of Monte Vista uses the purchase method to account for supplies inventory. 7. Licenses and fees in the amount of $48,000 were collected. 8. Vouchers in the amount of $1,300,000 were paid. 9. Cash in the amount of $80,000 was transferred to the Debt Service Fund. 10. Supplies on hand at the end of the year amount to $100,000. Required: A. Prepare entries in general journal form to record the transactions of the General Fund for the year ended December 31, 2013. December 231, 2013 Revenue $3,200,000 Estimated Revenue Unreserved Fund Balance Appropriations Expeditures Encumbrances Unreserved Fund Balance $1,600,000 $1,600,000 0 Reserve for Emcumbrances 2013 Unreserved fund Balance Expendigures 2013 Transfers from other funds Unrserved Fund Balance transfers to other funds B. Prepare a preclosing trial balance for the General Fund as of December 31, 2013. C. Prepare the necessary closing entries for the General Fund for the year ended December 31, 2013. D. Prepare a balance sheet and a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2013