The following applies to Q 15, 16,17.18 The City of Katerah maintains its books and records in a manner that facilitates the preparation of fund financial statements, Prepare enrto ecord the city's revenues from the following transactions for the year ended December 31, 2017 a) On January 15, the city received notification hat it had been swarded a $300,000 federal grant to assist in the operation of is "Meals on Wheels" toype grant and all eligibility requirements have been met program. The foderal government expects to send the cash in about three months. This is not a reimbursement b) In February the city spent $31,000 on "Meals on Wheels. e.) In March, fines of $1,800 for were isued for parking tickets. Payment must be made within 30 days, when the city has an enforceable legal claim to the amounts. d.) In Apeil, the city received the $300,000 grant fromm the federal government cash in payment of parking tickets issued in March. In addition, $100 of tickets was contested and court dates have been set. Also, the will be paid eventually Restaurant licenses are issued for a In June, the city received $11,000 in restaurant license fees city expects another that $100 of tickets will be uncollectible but the remaining amounts one-year period, from July I to June 30. The license foes are used to pay restaurant inspectors E) 15. Grant Revenue to be recognized at Year-End Governmental Fund Financial Statements is a. $300,000 b.$269,000 C. $31,000 So 16. Fine Revenue to be recognized at Year-End Governmental Fund Financial Statements is Va. $1,800 b. $1,500 e. $1,300 d. $1,200 17. Fine Receivable (Gross, not Net) to be recognized at Year -End Govemmental Fund Financial Statements is a. $600 b. $500 c.$400 yd. $300 18. Licenses Revenue to be recognized at Year-End Governmental Fund Financial Statements is Va. S11,000 b. $3,500 The following applies to Q # 1920 In November and December 2017, merchants collect $20 million in sales taxes. Of these, $5 million is remitted to the state as due by December 15, 2017; the remaining $15 million is due on January 15, 2018. The state remits the taxes to the city 100 days after it receives them. The availability rule of the city is 60 days 19. How much sales tax revenue should the city recognize at 2017? a. $20 Million b. $15 Million C. $5 Million d. $0 Million 20. How much deferred inflow of resources should the city recognize at 2017? b. d. S20 Million $15 Million $5 Million $0 Million Vc