Prepare a reconciliation worksheet showing governmental funds to activities.

Please show any supporting calculations.

3. Prepare a reconciliation worksheet showing governmental funds to activities. The Oak City's adjusted, pre-closing trial balance for the year is presented below: Cash Taxes receivable, net Vouchers payable Fund balance unassigned Revenues Other financing sources Expenditures Other financing uses Total DR CR $ 142.000 52,000 6,500 213,550 987,500 535,000 1,473,550 75.000 $1,742,550S1.742,550 Additional information for the year includes: (1) $540,000 of capital assets were acquired during the year. (2) $50,000 of depreciation expense on those capital assets should be recognized for the year. (3) $460,000 of general obligation bonds were issued the first day of the year. (4) Bonds payable carry an interest rate of 10% per annum. Interest for the year will be paid the first day of the new year. (5) Additional property taxes accrued at year end were $60,000 with 1% estimated uncollectible taxes. (6) Assume there is a $75,000 transfer-in and $75,000 transfer-out to other funds. This illustration of converting fund information to that needed for the government-wide statements is simplified by focusing only on the General Fund, not the other governmental funds and internal service funds, having only five reconciling items, presenting taxes receivable and capital assets net of their contra-asset accounts, and omitting the detail of revenues and expenses. Add rows if needed. Adjustments Statement of Activities Fund Balances DR CR 142.000 52,000 Statement of Net Position DR CR DR CR DR CR 6,500 213,550 Fund accounts: Cash Taxes receivable, net Capital assets, net Vouchers payable Interest payable Bonds payable Fund balance unassigned Net assets-unrestricted Revenues Other financing sources Expenditures Expenses Other financing uses Excess of revenues over expenses Total 987,500 535,000 1,473,550 75,000 112.550 1742 5502 IF