Answered step by step
Verified Expert Solution
Question
1 Approved Answer
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, 2017:
| Revenues: | |||
| Property taxes | $ | 27,022,000 | |
| Sales taxes | 13,319,000 | ||
| Fees and fines | 1,327,000 | ||
| Licenses and permits | 1,724,000 | ||
| Intergovernmental | 2,370,000 | ||
| Investment earnings | 658,000 | ||
| Expenditures: | |||
| Current: | |||
| General government | 11,727,000 | ||
| Public safety | 24,446,000 | ||
| Public works | 6,213,000 | ||
| Health and sanitation | 1,166,000 | ||
| Culture and recreation | 2,157,000 | ||
| Transfer to capital project fund | 1,123,000 | ||
| Special itemproceeds from sale of land | 825,000 | ||
| Fund balance, October 1, 2016 | 1,814,000 | ||
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, 2017. (Deductions should be entered with a minus sign.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started