QUESTION 34 The following is related to the town of Coupland (dollar amounts in thousands): Property taxes levied and collected $6,300 Hotel taxes (restricted to promotion of tourism) collected $1,200 Proceeds of bonds to build a parking garage that must be repaid from user charges $4,000 Proceeds of general obligation bonds to nance construction of a new city hall; the building, which was completed during the year, has a useful life of 30 years with no salvage value $9,000 Equipment used in a vehicle repair service that provides service to other departments on a cost-reimbursement basis; the equipment has a 10-year life with no salvage value $1,400 Fees charged to, and collected from, customers by the electric utility $8,000 Determine revenue to be recognized in special revenue funds. $2,200 $1,200 $1,000 $2,400

QUESTION 35 At December 31, Year 1, the following balances were due from the state government to Clare City's various funds: Capital projects $300,000 Special revenue fund $18,000 Trust and agency 100,000 Investment trust fund 80,000 In Clare's December 31, Year 1, financial statements, what amount should be reported in fiduciary funds? $318,000 $100,000 $183,000 $80,000