The following general fund information is available for the preparation of the financial statements for the city
Question:
The following general fund information is available for the preparation of the financial statements for the city of Eastern Shores for the year ended
September 30, 2009:
Revenues:
Property taxes $16,000,000
Sales taxes 23,216,000
Fees and fines 1,124,000
Licenses and permits 1,921,000
Intergovernmental 868,000
Investment earnings 654,000
Expenditures:
Current:
General government 8,192,000
Public safety 24,444,000
Public works 6,211,000
Health and sanitation 1,193,000
Culture and recreation 2,154,000
Debt service—principal 652,000
Debt service—interest 821,000
Proceeds of long-term, capital-related debt 1,210,000
Transfer to special revenue fund 1,119,000
Special item—proceeds from sale of land 821,000
Fund balance, October 1, 2008 13,211,000
From the information given above, prepare, in good form, a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the city of Eastern Shores General Fund for the Year Ended September 30, 2009
Financial StatementsFinancial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Step by Step Answer:
Essentials Of Accounting For Governmental And Not-for-Profit Organizations
ISBN: 9781260570175
14th Edition
Authors: Paul Copley