The question in my textbook had me prepare the statement of activities, statement of net position, statement of revenues, expenditures, and other changes in fund balances, and a balance sheet. I have prepared all of these but I would like to know the following:

a) Journal entries and trial balance. (In order to prepare of statement activities and statement of net position for governmental activities.)

b) Journal entries and trial balance for fund-based financial statements. (In order to prepare statement of revenues, expenditures, and other changes in fund balances and balance sheet both for the general fund.)

The following information pertains to the City of Williamson for 2017, 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.

Compensated absences (such as vacations and sick days) are legally owed to general government workers at year-end total $22,500. These amounts will not be taken by the employees until so late in 2018 that the payment is not viewed as requiring 2017 current financial resources.

The city received a piece of art this year as a donation. It is valued at $16,700. It will be used for general government purposes. There are no eligibility requirements. The city chose not to capitalize this property.

The general government uses the storage shed that was acquired this year. It is being depreciated over 10 years using the straight-line method with no salvage value. The city uses the equipment for health and sanitation and depreciates it using the straight-line method over five years with no salvage value.

The investments are valued at $114,200 at the end of the year.

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

$436,000 49,900 6,600 3,900 49,400 300,000 93,600 70,550 40,900 22,900 15,700 18,200 3,000 Receipts: Property taxes Franchise taxes Charges for general government services Charges for public safety services Charges for health and sanitation services Issued long-term note payable Receivables at end of year: Property taxes (90% estimated to be collectible) Payments: Salary: General government Public safety Health and sanitation Rent: General government Public safety Health and sanitation Maintenance: General government Public safety Health and sanitation Insurance: General government Public safety ($2,500 still prepaid at end of year) Health and sanitation Interest on debt Principal payment on debt Storage shed Equipment Supplies (20% still held) (public safety) Investments Ordered but not received: Equipment Due in one month at end of year: Salaries: General government Public safety Health and sanitation 37,600 7,800 11,000 9,200 13,800 16,700 24,000 6,000 175,000 125,000 20,900 100,000 21,500 6,600 7,500 8,100