Presented on the following pages are partial financial statements for the City of Shenandoah, including Fiscal year 2020: A Total Governmental Funds: Balance Sheet Statement of Revenues, Expenditures, and Changes in Fund Balances B. Internal Service Fund: Statement of Net Position Statement of Revenues, Expenses, and Changes in Net Position Fiscal year 2019: A Total Governmental Funds: Balance Sheet B. Government-wide--Governmental Activities Statement of Net Position CITY OF SHENANDOAH Balance Sheet Governmental Funds December 31, 2020 Total Governmental Funds December 31. 2019 Total Governmental Funds $1,372,900 136.450 $1,029,675 102,338 Assets Cash and cash equivalents Investments Receivables Taxes Interest Due from state government Total assets Liabilities and deferred inflows Accounts payable Due to other funds Deferred inflows: property taxes Total llabilities and deferred inflows 97.522 28,768 513.000 2.148,640 73,142 31,325 384.750 1.621,230 17,950 10,400 46,600 10.200 78,000 134.800 65,000 93,350 (Continued Additional information: 1. $856,700 of the capital assets purchased in fiscal year 2020 was equip ment. All remaining capital acquisitions were for a new building, 2. Depreciation of general fixed assets: buildings $1,100,000, infrastruc ture $975,000, and equipment $537.500. 3. The City had $6,000,000 of 6 percent general obligation bonds (issued at par) outstanding at December 31, 2019. In addition, the City issued $4.000.000 of 5 percent bonds on January 2, 2020 (sold at a premium Interest payments on both bond issues are due on January 1 and July 1, Principal payments are made on January 1. Interest and principal pay. ments for the current year include 5 Percent General Obligation Bonds Principal Payment-January 1 Interest Payment-January 1 Interest Payment-July 1 6 Percent General Obligation Bonds $500,000 180,000 165.000 $100,000 The January interest payments are accrued for purposes of the government-wide statements but not the fund-basis statements. The bond premium is to be amortized in the amount of $2.500 per year. 56 Chapter 8 to be collected more than 60 days after year-end e accumulated liability for landfill closure and are costs is estimated to be $36.500. Landfill operations are 4. Property taxes expected to be collected more are deferred in the fund-basis statements. 5. At the end of 2020, the accumulated liability for an postclosure care costs is estimated to be $30, reported in the General Fund-Public Works. 6. The internal service fund serves several mal service fund serves several departments of the General Fund, all within the category of "General Government. he category of "General Government." The internal ce fund was created at the end of 2019 and had no capital assets or long-term liabilities at the end of 2019. Prepare all worksheet journal entries necessary for fiscal year - convert the governmental fund-basis amounts to the economic resources measurement focus and accrual basis required for the governmental activi ties sections of the government-wide statements