The City of Bernard starts the year of 2020 with the following unrestricted amounts In Its general fund cash of $42,750 and investments of $80,000. In addition, it holds a small building bought on January 1, 2019, for general government purposes for $398,000 and a related long-term debt of $318,400. The building is depreciated on the straight-line method over 10 years. The annual interest rate on the debt 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: $595,000 105,300 29,000 17,200 8,359 4,500 33,409 8,500 31,100 215, ee 99.00 es 140,000 113,500 111,000 89,000 26,600 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 landf411 Grant to be used for salaries for health workers (no eligibility requirenents) Loxwed long-torse note payable Sold investeents (mentioned above) Receivables at year.ed Property taxes (317.300 is expected to be uncollectible) Paytrents Salary: General governtent Public safety Public works Health and sanitation (all from grant) Utilities General government 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 covernment Public safety Public Works Health and sanitation Interest on previous ab Principal payment on previous debt Interest new debt Building public works) Equipment public safety) Public works supplies ( still held) Investits Ordered but not received: Expert Supplies Due at end of yeart Salaries General government Public safety Publiek 11,100 17,450 13,650 4,500 28,100 17, 10e 6,000 6,36 17,100 14,100 13,550 11.050 31,40 17.00 16,350 210,000 105,000 25,600 114,000 V 2,400 17200 20.150 6. OD Interest on previous geot Principal payment on previous debt Interest on new debt Building public works) Equipment (public safety) Public Works supplies (30% still held) Investrants Ordered but not received Equipment Supplies Due at end of years Salaries General government Public safety Public Works 31,640 17,900 19, 350 210,000 105,000 26,600 144,000 35,500 9,400 1,200 20,15e 6,600 On the last day of the year, the city borrows $69,000 from a local bank and uses the 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 opens a land this year that it records within its general fund. It is a public works function Closure costs today is estimated as $297000 although officols do not expect the landfill to be filed for nine more years. The city has incurred no costs to date. The landfin 15 now 15 percent filled, For the equipment and supplies that were 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 arrive The new building is depreciated over 20 years using the straight-line method and no residual value, Depreciation of the equipment is umilar except that its life is only 10 years Assume the city records a full years depreciation in the year of acquisition The investments have a market value of $153,050 at year end 6.1. Prepare a statement of activities for governmental activities in goveroment wide financial statements for December 31, 2020 and the year then ended, 6.2. Prepare a statement of net position for governmental activities in government wide financial statements for December 31, 2020, and the year then onded, b.1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended Assume the purchases method is applied b-2. Prepare o balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases nethod is applied Complete this question by entering your answers in the tabs below. PARA1 HA e bi fe Prepare a statement of active for governmental activities in government wide financial Statement for December 31.9020 and the year ter werer bordet (por ve and changestion der valuta defced within gatvolar to the looks) CITY OF DAARD amele For Your Dema 2020 Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Req Bi Reg B2 Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended. (For columns under "Net (Expense) Revenue and Changes in Net Position, enter values to be deducted with negative sign. Enter rest of the values as positive.) CITY OF BERNARD Statement of Activities For Year Ended December 31, 2020 Program Revenues Charges for Grants and Services Contributions Net (Expense) Revenue and Changes in Net Position Governmental Activities Total Functions Programs Expenses Governmental activities: $ 0 $ 0 5 0 $ Total governmental activities General revenues S 05 V Total general revenues Change in net position: Change during 2020 0 $ 0 0 3 0 Roq A2 > Req A1 Reg A2 Req B1 Req 82 Prepare a statement of net position for governmental activities in government-wide financial statements for December 31 2020, and the year then ended. CITY OF BERNARD Statement of Net Position December 31, 2020 Governmental Activities Totals Assets: Current assets Total current assets Capital assets: 05 Total assets Liabilities: Current liabilities Noncurrent liabilities: Total liabilities Nation 0 Assume the purchases method is applied ecember 31, 2020, and the year then Complete this question by entering your answers in the tabs below, Req A1 Req A2 Reg BI Req B2 Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied. CITY OF BERNARD Statement of Revenues. Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2020 General Fund Revenues: Total 5 Expenditures: Current Debt service: Capital outlay: Total expenditures 3 0 Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Req B1 Reg B2 Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2020 General Fund Assets Total assets Liabilities and fund balances: Liabilities Fund balances: O Total abilities and fund balance 3 Req A1 Reg A2 Req B1 Req 82 Prepare a statement of net position for governmental activities in government-wide financial statements for December 31 2020, and the year then ended. CITY OF BERNARD Statement of Net Position December 31, 2020 Governmental Activities Totals Assets: Current assets Total current assets Capital assets: 05 Total assets Liabilities: Current liabilities Noncurrent liabilities: Total liabilities Nation 0 Assume the purchases method is applied ecember 31, 2020, and the year then Complete this question by entering your answers in the tabs below, Req A1 Req A2 Reg BI Req B2 Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied. CITY OF BERNARD Statement of Revenues. Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2020 General Fund Revenues: Total 5 Expenditures: Current Debt service: Capital outlay: Total expenditures 3 0 Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Req B1 Reg B2 Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume the purchases method is applied CITY OF BERNARD Balance Sheet Governmental Funds December 31, 2020 General Fund Assets Total assets Liabilities and fund balances: Liabilities Fund balances: O Total abilities and fund balance 3