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The City of Duncan collected and accrued property taxes totaling $4,500,000 for the current year. It booked net expenses for education and public safety of
The City of Duncan collected and accrued property taxes totaling $4,500,000 for the current year. It booked net expenses for education and public safety of $800,000 and $1,000,000, respectively. Municipal recreation (city pool and golf course) reported net revenues of $200,000. Water and sewer services reported net revenues of $500,000. For government-wide financial statements, what amount will Duncan report for total government net (expenses) revenues? a. $7,000,000 b. $4,500,000 c. ($1,100,000) d. $3,400,000
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