Question
The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for the year ended September
The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for the year ended September 30, 2020: Revenues: Property taxes $ 27,320,000 Sales taxes 13,453,000 Fees and fines 1,462,000 Licenses and permits 1,860,000 Intergovernmental 2,505,000 Investment earnings 791,000 Expenditures: Current: General government 11,757,000 Public safety 24,477,000 Public works 6,245,000 Health and sanitation 1,197,000 Culture and recreation 2,189,000 Transfer to capital project fund 1,153,000 Special itemproceeds from sale of land 857,000 Fund balance, October 1, 2019 1,845,000 From the information given above, prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the City of Eastern Shores General Fund for the year ended September 30, 2020. (Negative entries should be entered with a minus sign and will appear in parenthesis.)
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