The following information regarding the fiscal year ended December 31, 2014, was drawn from the accounts and

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The following information regarding the fiscal year ended December 31, 2014, was drawn from the accounts and records of the Volendam County general fund:

Revenues and Other Asset Inflows

Taxes....................................................$10,000,000

Licenses and permits.....................................2,000,000

Intergovernmental grants..................................300,000

Proceeds of short-term note issuances.................1,000,000

Collection of interfund advance to other fund..........450,000

Receipt of net position of terminated fund...........2,000,000

Expenditures and Other Asset Outflows

General government expenditures.....................8,000,000

Public safety expenditures..............................1,500,000

Judicial system expenditures...........................1,000,000

Health and welfare expenditures.......................1,200,000

Equipment purchases.......................................600,000

Payment to debt service fund to cover future debt service on general

Government bonds........................................320,000

Fund balance-unassigned, January 1, 2014.......$3,130,000

REQUIRED:

Prepare a statement of revenues, expenditures, and changes in fund balance for the Volendam County general fund for the year ended December 31, 2014.

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Advanced Accounting

ISBN: 978-0133451863

12th edition

Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith

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