The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $42,250 and investments of $82,500. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $318,000 and related long-term debt of $254,400. The building is being depreciated on the straight-line method over 10 years. The interest rate is 10 percent. The general fund has four separate functions: general government, public safety, public works, and health and sanitation. Other information includes the following: $597,000 107,800 25,000 19,400 12,050 5,700 40,800 9,200 Receipts: Property taxes Sales taxes Dividend income Charges for general government services Charges for public safety services Charges for public works Charges for health and sanitation services Charges for landfill Grant to be used for salaries for health workers (no eligibility requirements) Issued long-term note payable Sold above investments Receivables at year-end: Property taxes ($10,100 is expected to be uncollectible) Payments: Salary: General government Public safety Public works Health and sanitation (all from grant) Utilities: General government Public safety 28,500 221,000 96,650 136,500 137.900 107,750 74,250 23,400 10,000 20.300 20,300 17,550 6,000 28,700 14,200 8,700 4,800 Public safety Public works Health and sanitation Insurance: General government Public safety Public works (all prepaid as of the end of the year) Health and sanitation Miscellaneous : General government Public safety Public works Health and sanitation Interest on previous debt Principal payment on previous debt Interest on new debt Building public works) Equipment (public safety) Public works supplies (308 still held) Investments Ordered but not received: Equipment Supplies Due at end of year! Salaries: General government Public safety Public Works 12.500 12,800 13,650 9,300 25, 440 13,900 19,890 222,000 99,000 21,700 140,500 37,500 7,250 16,600 20.700 7.500 On the last day of the year, the city borrowed $70,000 from a local bank and used that money to buy a truck. The first payment on the loan (plus interest) will be made at the end of the next year. On the last day of the year, the city borrowed $70,000 from a local bank and used that money to buy a truck. The first payment on the loan (plus interest) will be made at the end of the next year. The city started a landfill this year that it is recording within its general fund. It is included as a public works function. Closure costs today would be $276,500 although the landfill is not expected to be filled for nine more years. The city has incurred no costs to date although the landfill is now 15 percent filled. For the equipment and supplies that have been ordered but not yet received the City Council (the highest decision- making body in the government) has voted to honor the commitment when the items are received. The new building is being depreciated over 20 years using the straight-line method and no salvage value, whereas depreciation of the equipment is similar except that its life is only 10 years. Assume the city records a full year's depreciation in the year of acquisition. The investments are valued at $145,650 at year-end. a-1. Prepare a statement of activities for governmental activities for December 31, 2017, and the year then ended. a-2. Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. b-2. Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. Complete this question hy entering vnur answers in the tahs helnur Expenses Charges for Services Grants and Contributions Total Activities Functions/Programs Governmental activities: General government Public safety Public works Health and sanitation Interest on debt ak $ 0 $ 0 $ 0 $ 0 s inces Total governmental activities General revenues: Property taxes Sales taxes Dividend income Gain on sale of investments Gain on value of investments $ 0 S 0 Total general revenues Change in net position: Change during 2017 Net position--beginning Net position-ending $ 0 $ $ 0 S CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets $ 0 $ Total current assets Capital assets $ $ 0 Total assets Liabilities $ 0 $ 0 Total assets Liabilities: Current liabilities: ook Int ences Noncurrent liabilities: $ 0 $ 0 Total liabilities Net position: Total net position $ 0 $ 0 CITY OF BERNARD Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues 0 Total Expenditures: Current Debt service: Capital outlay: fitures $ 0 Total ex Excess (deficiency) of revenues over expenses Other financing sources: $ 0 $ 0 Total other financing sources Net changes in fund balance 0 S 0 Governmental Funds December 31, 2017 General Fund Assets: ces $ 0 Total assets Liabilities and fund balances: Liabilities: Fund balances 0 S S Total liabilities and fund balance 0 The City of Bernard starts the year of 2017 with the following unrestricted amounts in its general fund: cash of $42,250 and investments of $82,500. In addition, it holds a small building bought on January 1, 2016, for general government purposes for $318,000 and related long-term debt of $254,400. The building is being depreciated on the straight-line method over 10 years. The interest rate is 10 percent. The general fund has four separate functions: general government, public safety, public works, and health and sanitation. Other information includes the following: $597,000 107,800 25,000 19,400 12,050 5,700 40,800 9,200 Receipts: Property taxes Sales taxes Dividend income Charges for general government services Charges for public safety services Charges for public works Charges for health and sanitation services Charges for landfill Grant to be used for salaries for health workers (no eligibility requirements) Issued long-term note payable Sold above investments Receivables at year-end: Property taxes ($10,100 is expected to be uncollectible) Payments: Salary: General government Public safety Public works Health and sanitation (all from grant) Utilities: General government Public safety 28,500 221,000 96,650 136,500 137.900 107,750 74,250 23,400 10,000 20.300 20,300 17,550 6,000 28,700 14,200 8,700 4,800 Public safety Public works Health and sanitation Insurance: General government Public safety Public works (all prepaid as of the end of the year) Health and sanitation Miscellaneous : General government Public safety Public works Health and sanitation Interest on previous debt Principal payment on previous debt Interest on new debt Building public works) Equipment (public safety) Public works supplies (308 still held) Investments Ordered but not received: Equipment Supplies Due at end of year! Salaries: General government Public safety Public Works 12.500 12,800 13,650 9,300 25, 440 13,900 19,890 222,000 99,000 21,700 140,500 37,500 7,250 16,600 20.700 7.500 On the last day of the year, the city borrowed $70,000 from a local bank and used that money to buy a truck. The first payment on the loan (plus interest) will be made at the end of the next year. On the last day of the year, the city borrowed $70,000 from a local bank and used that money to buy a truck. The first payment on the loan (plus interest) will be made at the end of the next year. The city started a landfill this year that it is recording within its general fund. It is included as a public works function. Closure costs today would be $276,500 although the landfill is not expected to be filled for nine more years. The city has incurred no costs to date although the landfill is now 15 percent filled. For the equipment and supplies that have been ordered but not yet received the City Council (the highest decision- making body in the government) has voted to honor the commitment when the items are received. The new building is being depreciated over 20 years using the straight-line method and no salvage value, whereas depreciation of the equipment is similar except that its life is only 10 years. Assume the city records a full year's depreciation in the year of acquisition. The investments are valued at $145,650 at year-end. a-1. Prepare a statement of activities for governmental activities for December 31, 2017, and the year then ended. a-2. Prepare a statement of net position for governmental activities for December 31, 2017, and the year then ended. b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. b-2. Prepare a balance sheet for the General Fund as of December 31, 2017, and the year then ended. Assume that the purchases method is being applied. Complete this question hy entering vnur answers in the tahs helnur Expenses Charges for Services Grants and Contributions Total Activities Functions/Programs Governmental activities: General government Public safety Public works Health and sanitation Interest on debt ak $ 0 $ 0 $ 0 $ 0 s inces Total governmental activities General revenues: Property taxes Sales taxes Dividend income Gain on sale of investments Gain on value of investments $ 0 S 0 Total general revenues Change in net position: Change during 2017 Net position--beginning Net position-ending $ 0 $ $ 0 S CITY OF BERNARD Statement of Net Position December 31, 2017 Governmental Activities Totals Assets: Current assets $ 0 $ Total current assets Capital assets $ $ 0 Total assets Liabilities $ 0 $ 0 Total assets Liabilities: Current liabilities: ook Int ences Noncurrent liabilities: $ 0 $ 0 Total liabilities Net position: Total net position $ 0 $ 0 CITY OF BERNARD Statement of Revenues, Expenditures, and Other Changes in Fund Balances - Governmental Funds For Year Ended December 31, 2017 General Fund Revenues 0 Total Expenditures: Current Debt service: Capital outlay: fitures $ 0 Total ex Excess (deficiency) of revenues over expenses Other financing sources: $ 0 $ 0 Total other financing sources Net changes in fund balance 0 S 0 Governmental Funds December 31, 2017 General Fund Assets: ces $ 0 Total assets Liabilities and fund balances: Liabilities: Fund balances 0 S S Total liabilities and fund balance 0