The following information pertains to the City of Williamson for 2020, its first year of legal existence. For convenience, assume that all transactions are for the general fund, which has three separate functions: general government, public safety, and health and sanitation.

Receipts:
Property taxes	$392,000
Franchise taxes	47,600
Charges for general government services	7,400
Charges for public safety services	4,100
Charges for health and sanitation services	60,600
Issued long-term note payable	269,500
Receivables at end of year:
Property taxes (90% estimated to be collectible)	101,000
Payments:
Salary:
General government	68,850
Public safety	39,300
Health and sanitation	27,500
Rent:
General government	11,500
Public safety	26,300
Health and sanitation	5,700
Maintenance:
General government	38,200
Public safety	5,400
Health and sanitation	10,700
Insurance:
General government	9,500
Public safety ($3,600 still prepaid at end of year)	14,600
Health and sanitation	14,600
Interest on debt	21,560
Principal payment on debt	5,390
Storage shed	171,000
Equipment	98,500
Supplies (20% still held) (public safety)	20,700
Investments	103,000
Ordered but not received:
Equipment	19,500
Liabilities, all of which are due in one month at end of year:
Salaries:
General government	5,400
Public safety	7,800
Health and sanitation	9,000

Compensated absences (such as vacations and sick days) legally owed to general government workers at year-end total $14,700. These amounts will not be taken by the employees until so late in 2021 that the payment is not viewed as requiring 2020 current financial resources.

The city received a piece of art this year as a donation. It is valued at $19,800. The city plans to use it for general government purposes. The gift has no eligibility requirements. The city chose not to capitalize this property.

General government activities use the storage shed that was acquired this year. It is depreciated over a 10-year period using the straight-line method with no residual value. The city uses the equipment for health and sanitation and depreciates it using the straight-line method over five years with no residual value.

The investments are valued at $117,700 at the end of the year.

For the equipment that was ordered but not yet received, the City Council (the highest decision-making body in the government) voted to honor the commitment when the equipment eventually arrives.

a-1. Prepare a statement of activities for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended.

a-2. Prepare a statement of net position for governmental activities in government-wide financial statements for December 31, 2020, and the year then ended.

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 that the city applies the consumption method.

b-2. Prepare a balance sheet for the general fund in fund financial statements as of December 31, 2020, and the year then ended. Assume that the city applies the consumption method.

CITY OF WILLIAMSON Statement of Activities For Year Ended December 31, 2020 CITY OF WILLIAMSON Statement of Revenues, Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2020 CITY OF WILLIAMSON Balance Sheet