The City of Bernard starts the year 2020 with the following unrestricted amounts in its General Fund; cash of $500,000 and investments of $80,000.In addition, it holds a building bought on January 1, 2019 for general government purposes for $500,000 and related long term debt of $300,000. The building is being depreciated on a straight line basis over ten years. The General Fund carries out two separate functions: general government and public works.

Receipts:

Property taxes $900,000

Sales taxes 300,000

Dividend income 500,000

Charges for general government services 50,000

Charges for public works 80,000

Bond proceeds for building construction 400,000

Proceeds from sale of investments (cost was $80,000) 75,000

State grant 200,000

Receivables at end of year:

Property taxes- $100,000 (Billed at the end of the year were legally

enforceable. The money can be used in 2020 but will not be collected

until 2021.$30,000 will be collected by February 2, 2021. The remainder

will be collected in July 2021.)

Payments:

General government expenditures (salaries, rent & maintenance) $200,000

Public works expenditures (salaries, rent & maintenance) 100,000

Interest on debt 50,000

Principal on debt 20,000

Equipment (public works) 100,000

Investments 40,000

Public works supplies (40 percent still held) 50,000

Ordered but not received:

Equipment $50,000

Additional information:

The $200,000 state grant was unrestricted. The state designated the money for 2021

A truck was leased on the last day of the year. The first payment will be at the end of the next year. Total payments amount to $64,000 but have a present value of $50,000.

The city started a landfill within its General fund in January 2019. It is included as a public works function. Closure costs are expected to be $ 500,000 in about nine years. No costs have been incurred to date although the landfill was 6% filled in 2019 and is now 12 percent filled at the end of 2020.

The equipment was purchased in January 2020. The equipment is used for public works and is depreciated using the straight-line method over five years with no salvage value.

The city supervisor has decided to honor the commitment for the encumbrance.

The investments acquired in 2019 for $20,000. The fair value at the end of 2019 was $25,000.It is valued at $35,000 at the end of the 2020.

Required:

Compute the amounts requested. It is not necessary to prepare the financial statements.

Items 1-8 relate items appearing on the statement of activities for the year ended December 31, 2020. Assume the consumption method is used for supplies.

1. Amount of general government expenses

2 Amount of public works expenses

3. Amount of supplies expense

4. Amount of property tax revenue

5.Amount of landfill expense

6. Amount of net(expense)revenue for the general government function

7.Amount of unrealized gain(loss) on investments

8. Amount on net position at 1.1/20

Items 9-12 relate to items appearing on the statement of net position dated 12/31/20..

9. Amount of lease obligation

10. Amount of closure liability landfill

11. Amount of invested in capital assets net of related debt

12. Amount of deferred inflows

Items 13-19 relate to items appearing on the statement of revenues, expenditures, and changes in fund balance for the year ended 12/31/20.( The purchases method is used)

13. Amount of fund balance at 1/1/20

14. Amount of general government expenditures

15. Amount of other financing sources

16. Amount of capital outlay

17. Amount of debt service

18. Amount of nonspendable fund balance

19. Amount of committed fund balance