Prepare a statement of revenues, expenses, and changes in net position for the Solid Waste Disposal Fund for the year ended December 31, 2020. Interest expense should be considered a nonoperating item.

Hint:

Statement of revenue, expenses, and changes in net position: operating revenue- 2,583,702 total operating expenses- 2,523,010 non-operating expenses- 3,500 Total net position Dec 31 --- 2,313,222

City of Smithville
Solid Waste Disposal Fund
Pre-closing Trial Balance
For year 2020
		Debits	Credits
Cash		$ 297,262
Customer Accounts Receivable		153,821
Allowance for Doubtful Accounts			$ 7,100
Due from Other Funds		2,800
Inventories		74,583
Land		600,000
Buildings		1,650,000
Accumulated Depreciation-Buildings			832,500
Equipment		1,735,700
Accumulated Depreciation-Equipment			889,680
Vouchers Payable			92,900
Accrued Payroll and Fringe Benefits			175,264
Accrued Interest Payable			3,500
Revenue Anticipation Notes-Current			100,000
Revenue Anticipation Notes-Long-Term			100,000
Net Position-Net Investment in Capital Assets			2,043,510
Net Position-Unrestricted			212,520
Charges for Services			2,584,662
Payroll and Fringe Benefits Expense		1,471,923
Materials and Supplies Expense		875,797
Depreciation Expense		175,290
Provision for Doubtful Accounts		960
Interest Expense		3,500
Totals for all accounts		$ 7,041,636	$ 7,041,636

Prepare a statement of revenues, expenses, and changes in net position for the Solid Waste Disposal Fund for the year ended December 31, 2020. Interest expense should be considered a nonoperating item. Hint: Statement of revenue, expenses, and changes in net position: operating revenue- 2,583,702 total operating expenses- 2,523,010 non-operating expenses- 3,500 Total net position Dec 31 --- 2,313,222 City of Smithville Solid Waste Disposal Fund Pre-closing Trial Balance For year 2020 Debits Credits $ 297,262 153.821 $ 7,100 2.800 74,583 600.000 1.650,000 832,500 1,735,700 Cash Customer Accounts Receivable Allowance for Doubtful Accounts Due from Other Funds Inventories Land Buildings Accumulated Depreciation-Buildings Equipment Accumulated Depreciation Equipment Vouchers Payable Accrued Payroll and Fringe Benefits Accrued Interest Payable Revenue Anticipation Notes-Current Revenue Anticipation Notes-Long-Term Net Position-Net Investment in Capital Assets Net Position-Unrestricted Charges for Services Payroll and Fringe Benefits Expense Materials and Supplies Expense Depreciation Expense Provision for Doubtful Accounts Interest Expense Totals for all accounts 889.680 92.900 175,264 3,500 100,000 100,000 2,043,510 212,520 2,584,662 1.471.923 875,797 175.290 960 3,500 $ 7,041,636 $7,041,636