(Transaction Analysis) Part A Analyze the effects of each of the following transactions on each of the funds and non-fund accounts of the City Nassau Using Table headings below Governmental Fund Fund Financial Assets Related Liabilities Fund Balance Part B. Indicate how each transaction would be reported in the operating statement for each fund affected Transactions: 1 Salaries and wages paid to general government employees from unrestricted resources during the totaled $4,000,000. Salaries and wages payable at the beginning of the year totaled $80,000 and at year-end amounted to $28.000 2 The city issued $20,000,000 of 10 year, 7.5% bonds at the beginning of the year interest is due semi-annually at the beginning of each and at mid-year. The bonds were issued al par to provide for the construction of a new police and fire facility 3. indicate any accruals required at the end of the year that the bonds were issued 4 Construction costs totaling $7 500 000 were paid during the year related to the police and fore facility A bill from the contractor tequiring an additional payment of $220 500 was received before year end but was not paid ty year end b In the beginning of year 2 the city paid the bond interest doe and relired $2 000 000 of bonds Before the payments were made an adequate amount of General Fund resources was paid to the fund from which the bond payments were made to provide those payments (Analyze both transactions) 6. The city sold equipment that cost $100.000 and had a remaining book value of $25,000 for $20,000. There are no restrictions on the use of the sale proceeds. 1 " E E % y here to search O RI 28C F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 Ho @ % & 4 5 6 7 8 9 0 Q W E R U s D F G H J K 1 (Transaction Analysis) Part A Analyze the effects of each of the following transactions on each of the funds and non-fund accounts of the City Nassau Using Table headings below Governmental Fund Fund Financial Assets Related Liabilities Fund Balance Part B. Indicate how each transaction would be reported in the operating statement for each fund affected Transactions: 1 Salaries and wages paid to general government employees from unrestricted resources during the totaled $4,000,000. Salaries and wages payable at the beginning of the year totaled $80,000 and at year-end amounted to $28.000 2 The city issued $20,000,000 of 10 year, 7.5% bonds at the beginning of the year interest is due semi-annually at the beginning of each and at mid-year. The bonds were issued al par to provide for the construction of a new police and fire facility 3. indicate any accruals required at the end of the year that the bonds were issued 4 Construction costs totaling $7 500 000 were paid during the year related to the police and fore facility A bill from the contractor tequiring an additional payment of $220 500 was received before year end but was not paid ty year end b In the beginning of year 2 the city paid the bond interest doe and relired $2 000 000 of bonds Before the payments were made an adequate amount of General Fund resources was paid to the fund from which the bond payments were made to provide those payments (Analyze both transactions) 6. The city sold equipment that cost $100.000 and had a remaining book value of $25,000 for $20,000. There are no restrictions on the use of the sale proceeds. 1 " E E % y here to search O RI 28C F1 F2 F3 F4 F5 F6 F7 F8 F9 F10 F11 F12 Ho @ % & 4 5 6 7 8 9 0 Q W E R U s D F G H J K 1