Told Cher Cash.... Predosing Trial Ba December 31, 2007 Deble $1,500,000 Credi Investments 3,000,000 Due from Special Revenue Feads, 75,000 Taxes Receivable-Delinquent. 3,000,000 Allowance for Uncollectible Taxas-Delinquent $ 40,000 Internet and Penalties Receivable. 300,000 Allowance for Uncollectible Interest and Penalties 100,000 laventory of Materials and Supplies. 47,000 Vouchers Payable. 600,000 Accrued Salarice and Wages Payable 140,000 Unearned Operating Grant Revenues Due to Internal Service Pund.. Due to Enterprise Pand Due to General Pund.. Deferred Revenues (Per 50-day rule) Fund Balance (Preclosing) Revenues Taxes... Licenses and Permits. 90,000 33,000 80,000 75,000 2,000,000 8,124,000 4,500,000 68,000 Fines and Forfeitures. 17,000 Investment Income 100,000 Intergovernmental-Operating Grants 20,000 Current Operating Expenditures/Expenses General Government 495,000 Public Safety. 1,500,000 Highways and Streets 1,700,000 Health and Sanitation.. 1,300,000 Capital Outlay-Equipment Purchases 750,000 Debt Service Expenditures: Principal Retirement.. 100,000 Interest. 150,000 Other Financing Sources: Transfers from General Fund. 111,000 Other Financing User Transfers to Capital Projects Funds. 35,000 Transfers to Debt Service Funds 76,000 Transfers to Enterprise Funds 70,000 Totals $16098.000 $16,098,000 Soucy Township General Capital Assets and General Long-Term Liabilities Accounts Trial Balance January 1, 20X7 Debit Credit Land $ 300,000 Buildings. 3.500.000 20-year life Accumulated Depreciation-Buildings $750,000 Furniture and Equipment 8000,000 10-year life Accumulated Depreciation-Furniture and Equipment 5,000,000 Bonds Payable Net Position Total 2,000,000 4,050,000 $11,800,000 $1,800.00 PTER 14 Financial Reporting Information 1. Deferred Revenues (other than for grants) at the beginning of the year were $2,200,000- all associated with taxes. 2. The operating grants were for Health and Sanitation. 3. Accrued interest payable at January 1, 20X7, was $50,000; at December 31, it was $47,500. 4. Depreciation expense on the buildings and on the furniture and equipment is associated with functions as follows: General Government, 10%; Public Safety, 50%; Highways and Streets, 25%; and Health and Sanitation, 15%. Assume zero salvage value. The equipment purchases occurred at the beginning of the year. 5. The county and state own all of the roads in the township, but the township is responsible for most ongoing maintenance. Required The December 31, 20X7, total fund balance (postclosing) was $6,764,000. Prepare a balance sheet conversion worksheet to derive government-wide, governmental activities data for Soucy Township. (Alternative Requirement: Prepare the worksheet conversion entries required for this information using the one-worksheet approach in Appendix 14-2.) P14-8 (Operating Statement Conversion Worksheet-Governmental Activities) Using the data from P14-7, prepare the operating statement conversion worksheet needed to derive government- wide, governmental activities data for Soucy Township for 20X7. (Alternative Requirement: Prepare the worksheet conversion entries required for this information using the one-worksheet approach in Appendix 14-2)