From the information given above, prepare a Water and Sewer Fund column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020. (Deductions should be entered with a minus sign.) CITY OF WESTERN SANDSWater and Sewer FundStatement of Revenues, Expenses, and Changes in Fund Net PositionFor the Year Ended December 31, 2020Operating Revenues:Operating Expenses:Total Operating ExpensesOperating IncomeNonoperating Revenues (Expenses):Total Nonoperating Revenues and ExpensesIncome (Loss) Before Contributions and TransfersChange in Net PositionNet Position, Beginning of YearNet Position, End of Year The following water and sewer fund information is available for the preparation of the financial statements for the City of WesternSands for the year ended December 31, 2020:Operating revenues-charges for servicesOperating expenses:Personnel services$18,236,0006,323,0003,032,000923,0002,027,0005,458,00066,000136,000123,0001,668,000387,0002,736,000Contractual servicesUtilitiesRepairs and maintenanceDepreciationInterest revenueState aid (intergovernmental revenue)Interest expenseCapital contributionsTransfer to General FundNet position, January 1, 2020

Operating expenses are costs associated with the company's provision of goods or services. The cost,…

The following water and sewer fund information is available for the preparation of the financial statements for the City of Western Sands for the year ended December 31, 2020: Operating revenues-charges for services Operating expenses: Personnel services $18,236,000 6,323,000 3,032,000 923,000 2,027,000 5,458,000 66,000 136,000 123,000 1,668,000 387,000 2,736,000 Contractual services Utilities Repairs and maintenance Depreciation Interest revenue State aid (intergovernmental revenue) Interest expense Capital contributions Transfer to General Fund Net position, January 1, 2020

The following water and sewer fund information is available for the preparation of the financial statements for the City of Western Sands for the year ended December 31, 2020: Operating revenues-charges for services Operating expenses: Personnel services $18,236,000 6,323,000 3,032,000 923,000 2,027,000 5,458,000 66,000 136,000 123,000 1,668,000 387,000 2,736,000 Contractual services Utilities Repairs and maintenance Depreciation Interest revenue State aid (intergovernmental revenue) Interest expense Capital contributions Transfer to General Fund Net position, January 1, 2020

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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The following selected information was taken from SunValley City’s general fund statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2019:Revenues:Property taxes—2019 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 825,000Expenditures:Current services:Public safety . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 350,000Capital outlay (police vehicles) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000Debt service . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74,000Excess of revenues over expenditures . . . . . . . . . . . . . . . . . . . . $ 153,000Other financing uses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (125,000)Excess of revenues over expenditures and other financing uses. $ 28,000Decrease in fund balance assigned (encumbrances) during 2019 . 15,000Residual equity transfers-out…
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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, 2024: Inflow of Financial Resources: Property taxes Sales taxes Fees and fines Licenses and permits Intergovernmental Investment earnings Proceeds from sale of land Outflows of Financial Resources: Current: General government Public safety Public works Health and sanitation Culture and recreation Transfer to capital project fund Fund balance, October 1, 2023 $ 27,025,000 13,323,000 1,332,000 1,730,000 2,375,000 661,000 831,000 11,731,000 24,451,000 6,219,000 1,171,000 2,163,000 1,127,000 1,819,000 Required: From the information given above, prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balance for the city of Eastern Shores General Fund for the year ended September 30, 2024. Note: Negative entries should be entered with a minus sign and will appear in parenthesis.
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CITY OF Grafton Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual: General Fund (Non-GAAP Budgetary Basis) For The Year Ended December 31, 2020 Budgeted Amounts REVENUES Original Final Actual Amounts Budgetary Basis Variance with Final Budget Property Taxes $ - Licenses and permits - Intergovernmental - Miscellaneous - TOTAL REVENUES - - - - EXPENDITURES AND ENCUMBRANCES Current General Government - Public Safety - Health and Welfare…
City of Rocky Basin Private - Purpose Trust Fund College Scholarship Fund Statement of Changes in Fiduciary Net Position For the Year Ended December 31, 2022 Additions: 1. A prominent citizen funds the trust for the College Scholarship Fund with $4,500,000 from her estate based on the provisions of her will. The City of Rocky Basin controls the trust assets. The terms of the will require the trust to maintain the principal intact; investment income is to be used to provide college scholarships for deserving graduates of Rocky Basin High School, which is independent from the City of Rocky Basin. 2. The entire gift is invested in certificates of deposit (CDs). 3. Interest income of $225,000 was received in cash. 4. That $225,000 was reinvested in short-term CDs. 5. The short-term CDs matured, yielding interest income of $2,250. 6. Interest income of $252,000 was received in cash. 7. Scholarships totaling $146,250 were paid to eligible students based on the provisions of the will that…
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