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Using the following data, prepare West Chester Countys General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30,
Using the following data, prepare West Chester Countys General Fund statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 2019, using the appropriate format.
Sales tax revenues | $2,400,000 |
Property tax revenues | 2,000,000 |
Expenditurescounty sheriff | 1,500,000 |
Expendituresall other departments | 2,600,000 |
Fund balance, July 1, 2018 | 300,000 |
Transfer out to Debt Service Fund | 200,000 |
Transfer in from Special Revenue Fund | 100,000 |
Instructions:
- Use the drop-down options and the fill-in the blank boxes to complete the financial statement.
- If applicable, use a negative sign with your answer to indicate an excess of expenditures over revenues, a transfer out, or total other financing uses. Other wise do not use negative signs with your answers.
- For the indented drop-down answer boxes, if there are two possible correct answers, select answers in the order that they appear in the above table.
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