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Please provide a full answer to all parts. Looking for transaction analysis, Balance sheet, and the activity statement. You are an analyst working for Orange

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Please provide a full answer to all parts. Looking for transaction analysis, Balance sheet, and the activity statement.

You are an analyst working for Orange City (OC) and you've been asked to update the city's basic financial statements for 2022. At the beginning of FY 2022 there was $325,000 in cash, $150,000 in marketable securities, capital assets with a net value of $6.8 million (accumulated depreciation of $4.4 million has already been taken out) and Net Position of $4,550,000. The fiscal year runs from January 1 to December 31 . OC experienced the following financial events during FY 2022: a) At the beginning of 2022 there was $225,000 outstanding in property taxes owed to OC from taxes levied in the previous year. During the year OC levied $3,800,000 in property taxes, and collected all of the outstanding taxes owed from the previous year and $3,000,000 of the taxes levied in 2022. b) At the beginning of the year the state owed OC $150,000 in state aid from FY 20. During the year the state became liable to OC for an additional $750,000 in state aid, and paid $800,000 during the year. c) OC issued $75,000 in parking tickets and collected the full amount in cash. d) At the beginning of FY 2022, OC owed employees $280,000 for work during the last month of 2021. Salaries earned by employees during the year totaled $3,500,000. OC's total salary payments during the year were 3,400,000. e) OC began the year owing its winter road salt supplier $50,000. During the year, OC purchased $140,000 of additional salt and paid out $100,000 in cash to the supplier. f) OC began 2022 with $20,000 in road salt left from 2021. They ended the year with none. g) OC pre-pays its insurance premium of $10,000 every six months for coverage for the next six months. It pays the day before coverage begins. Therefore, the city paid its premium for the first six months of 2022 on the last day of 2021, paid a premium for the last half of the year on June 30 and paid for the first half of 2023 on the last day of 2022. h) OC started the year with $2.8 million in outstanding G.O. bonds that had been used to purchase capital assets. The interest and principal on outstanding debt that came due during the year were $200,000 and $450,000, respectively, and these amounts were paid in full during the year. i) During the year OC purchased a building for $800,000, which was paid for with cash. OC also issued and sold $600,000 in bonds to help finance the purchase and it received the entire amount in cash. (No principal or interest payments were due on the bond this year.) The city also recognized $200,000 in depreciation during the year. j) During the year, OC sold $25,000 in marketable securities. On three separately labeled worksheets renamed "transactions", "balance sheet" and "activity statement", prepare a transactions worksheet, balance sheet, and activity statement for FY 2022 on the accrual basis of accounting. (Don't forget to link your spreadsheets with cell references!) You are an analyst working for Orange City (OC) and you've been asked to update the city's basic financial statements for 2022. At the beginning of FY 2022 there was $325,000 in cash, $150,000 in marketable securities, capital assets with a net value of $6.8 million (accumulated depreciation of $4.4 million has already been taken out) and Net Position of $4,550,000. The fiscal year runs from January 1 to December 31 . OC experienced the following financial events during FY 2022: a) At the beginning of 2022 there was $225,000 outstanding in property taxes owed to OC from taxes levied in the previous year. During the year OC levied $3,800,000 in property taxes, and collected all of the outstanding taxes owed from the previous year and $3,000,000 of the taxes levied in 2022. b) At the beginning of the year the state owed OC $150,000 in state aid from FY 20. During the year the state became liable to OC for an additional $750,000 in state aid, and paid $800,000 during the year. c) OC issued $75,000 in parking tickets and collected the full amount in cash. d) At the beginning of FY 2022, OC owed employees $280,000 for work during the last month of 2021. Salaries earned by employees during the year totaled $3,500,000. OC's total salary payments during the year were 3,400,000. e) OC began the year owing its winter road salt supplier $50,000. During the year, OC purchased $140,000 of additional salt and paid out $100,000 in cash to the supplier. f) OC began 2022 with $20,000 in road salt left from 2021. They ended the year with none. g) OC pre-pays its insurance premium of $10,000 every six months for coverage for the next six months. It pays the day before coverage begins. Therefore, the city paid its premium for the first six months of 2022 on the last day of 2021, paid a premium for the last half of the year on June 30 and paid for the first half of 2023 on the last day of 2022. h) OC started the year with $2.8 million in outstanding G.O. bonds that had been used to purchase capital assets. The interest and principal on outstanding debt that came due during the year were $200,000 and $450,000, respectively, and these amounts were paid in full during the year. i) During the year OC purchased a building for $800,000, which was paid for with cash. OC also issued and sold $600,000 in bonds to help finance the purchase and it received the entire amount in cash. (No principal or interest payments were due on the bond this year.) The city also recognized $200,000 in depreciation during the year. j) During the year, OC sold $25,000 in marketable securities. On three separately labeled worksheets renamed "transactions", "balance sheet" and "activity statement", prepare a transactions worksheet, balance sheet, and activity statement for FY 2022 on the accrual basis of accounting. (Don't forget to link your spreadsheets with cell references!)

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