Only requirement A2,B, and C

he following transactions relate to Newport City's special revenue fund. 1 In 2017, Newport City created a special revenue fund to help fund the 911 2 During the first year of operations, revenues from the newly imposed tax totaled 3. Expenditures (salaries) Incurred through the operation of the 911 emergency call 4. During the year the state government awarded Newport City a grant to relmburse emergency call center. The center is to be funded through a legally restricted tax on cellular phones. No budget is recorded. $487,500. Of this amount, $438,750 has been recelved In cash and the remalnde will be recelved within 60 days of the end of the fiscal year center totaled $435.000. Of this amount, $406,725 was paid before year-end. the City's costs (not to exceed $154.500) for the purpose of training new 911 operators. During the year, the City paid $146.775 (not reflected In the expenditures above) to train new operators for the 911 emergency call center and billed the state government 5 $141.275 of the amount billed to the State had been recelived by year-end. Required: a. Prepare the journal entries for the above transactions It is not necessary to use control accounts and subsidiary ledgers. Prepare closing entries for year-end b. Prepare a Statement of Revenues. Expenditures, and Changes in Fund Balance for the special revenue fund c. Prepare a Balance Sheet assuming there are no committed or assigned net resources Req Al Req A2 Req B Req C Prepare closing entries for year-end. (If no entry is required for a transaction/event, sel account field.) View transaction list Journal entry worksheet Record the closing entry. Note: Enter debits before credits. Transaction General Journa Debit Credit Req A1 Req A2 Req B Req C Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balanc NEWPORT CITY 911 CALL CENTER SPECIAL REVENUE FUND Statement of Revenues, Expenditures, and Changes in Fund Balance For the Year Ended December 31, 2017 Revenues: Total Revenues 0 Expenditures: Total Expenditures 0 Fund Balances, January 1, 2017 Fund Balances. December 31. 2017 0 Req A1 Req A2 Req B Req C Prepare a Balance Sheet assuming there are no committed or assigned ne NEWPORT CITY 911 CALL CENTER SPECIAL REVENUE FUND Balance Sheet As of December 31, 2017 Assets Total Assets Liabilities and Fund Balance Liabilities: Fund Balance: TOtaLa lities and Fund Balances