the fun- basis financial statements of jefferson county have been completed for the year 2015 and appear i the first tab of the excel spreadsheet provided with this excersize. the following is also available.

A. capital assets

- capital assets purchases in previous years through governmentl type funds totaled 7752000 ( net of accumualated depreciation) as of jan 1

- depreciation on capital assets used in gov type activies amounted to 305000

- no capital assets were sold or disposed of and all purchases are properly reflected in the fund basus statements as capital expenditures.

b. long term debt

- there ws no outstanding long term debt associated with gov type funds s of jan 1

- april 1. 6 percent bonds with a face value of 700,000 were issued at a premium. bond payments are made on october 1 nd april 1 of each year. interest is based on an annual rate of 6 percent and principal payments are 22,000 each. the first payment (interest and principal) was made on october 11

- amortization of the bond premium for the current year is 1,500

c. deffered inflows of resources

- deferred inflows(comprosed solely of property taxes) are expected to be collected mre than 60 days after year end. the balance of deferred taxes at the end of 2014 was 21,000

D. Transfers were between governmental type funds

E. internal service fund

- the(motor pool) internal service funds revenue is predominantly derived from departments classified as governmental type activities

- there wereno amounts due to the intermal service fund from the general fund. the outstanding balance of "due to other funds" was with the enterprise fund and is not a capital related.

- the enterprise fund provided a long term advance to the internal service und (not capital related)

Required

1. prepare the journal entries necessary to convert the governmental fund financial satements to the accruel basis of accounting

2.post the journal entries to the conversion worksheet provided

3. prepare the governtment-wide statement of activities and statement of net position for the year 2015. all of the governmental fund revenues are" general revenues"