please abswer both the questions within 30 minutes. Calculate the operating margins for the following:a) General Fund1.4b) General, Debt Service, and Library Funds aggregated. 22.81Round percentages to one decimal.Hint: The transfers out are routine transfers to the other two funds, so the entire net change in fund balance is the numerator in calculatingthe General Fund's operating margin. Because the transfers in are from the aggregated funds, they should be ignored in calculating thedenominator for the aggregated funds operating margin.) Computation of a village's operating marginThe following information is extracted from a village's governmental funds statement of revenues, expenditures, and changes in fundbalances (amounts in thousands).Selected dataGeneral Debt Service LibraryTotal revenues$16,416$49$29Total expenditures11,1181,263351Excess (deficiency) ofrevenues over expenditures5,298-1,214-322Transfers in1,275338Transfers out-1,613Net change in fund balances$230$51$9Calculate the operating margins for the following:

Operating margin of general fund = Operating income from general fund / Revenue from general fund =…

Answered: Calculate the operating margins for the…

Calculate the operating margins for the following: a) General Fund 1.4 % b) General, Debt Service, and Library Funds aggregated.

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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Question

please abswer both the questions within 30 minutes.

Calculate the operating margins for the following:
a) General Fund
1.4
b) General, Debt Service, and Library Funds aggregated. 22.81
Round percentages to one decimal.
Hint: The transfers out are routine transfers to the other two funds, so the entire net change in fund balance is the numerator in calculating
the General Fund's operating margin. Because the transfers in are from the aggregated funds, they should be ignored in calculating the
denominator for the aggregated funds operating margin.)

Computation of a village's operating margin
The following information is extracted from a village's governmental funds statement of revenues, expenditures, and changes in fund
balances (amounts in thousands).
Selected data
General Debt Service Library
Total revenues
$16,416
$49
$29
Total expenditures
11,118
1,263
351
Excess (deficiency) of
revenues over expenditures
5,298
-1,214
-322
Transfers in
1,275
338
Transfers out
-1,613
Net change in fund balances
$230
$51
$9
Calculate the operating margins for the following:

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