The following information is available for the preparation of the government wide financial statements for the city
Question:
The following information is available for the preparation of the government wide financial statements for the city of Northern Pines for the year ended June 30, 2017:
Expenses:
General government .................................................................$9,700,000
Public safety......................................................................... 23,000,000
Public works .........................................................................12,190,000
Health and sanitation ................................................................6,210,000
Culture and recreation ...............................................................4,198,000
Interest on long-term debt, governmental type................................... 1,021,000
Water and sewer system ...........................................................11,550,000
Parking system ........................................................................ 419,000
Revenues:
Charges for services, general government .......................................1,110,000
Charges for services, public safety ................................................1,210,000
Operating grant, public safety...................................................... 698,000
Charges for services, health and sanitation .....................................2,555,000
Operating grant, health and sanitation ..........................................1,210,000
Charges for services, culture and recreation ....................................2,198,000
Charges for services, water and sewer .........................................12,678,000
Charges for services, parking system ..............................................298,000
Property taxes .....................................................................27,112,000
Sales taxes .........................................................................20,698,000
Investment earnings, business-type ................................................319,000
Special item-gain on sale of unused land, governmental type ..............1,250,000
Transfer from governmental activities to business-type activities............. 888,000
Net position, July 1, 2016, governmental activities ..........................11,422,000
Net position, July 1, 2016, business-type activities ..........................22,333,000
From the previous information, prepare, in good form, a Statement of Activities for the city of Northern Pines for the year ended June 30, 2017.
Northern Pines has no component units.
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: 978-1259741012
13th edition
Authors: Paul A. Copley