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Presented below is the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Trinity Parish Fire District, a special-purpose entity engaged in a single governmental activity. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2024 Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Excess of revenues and other sources over (under) expenditures and other uses Fund balance-beginning of year Fund balance-end of year Additional information: Special General Fund Revenue Fund Total $ 294,000 26,600 4,800 325,400 $ 18,700 $ 294,000 45,300 4,800 18,700 344,100 4,900 142,500 15,200 157,700 22,800 22,800 116,300 116,300 4,900 8,400 8,400 $ 294,900 $ 15,200 $ 310,100 30,500 3,500 34,000 39,400 39,400 7,100 7,100 (7,100) (7,100) 32,300 7,100 39,400 62,800 10,600 73,400 23,500 7,600 31,100 $ 86,300 $ 18,200 $ 104,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $35,500 at the end of 2023 and $38,900 at the end of 2024. b. The current year's provision for depreciation totaled $64,300. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $133,100. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign.

Presented below is the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Trinity Parish Fire District, a special-purpose entity engaged in a single governmental activity. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2024 Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Excess of revenues and other sources over (under) expenditures and other uses Fund balance-beginning of year Fund balance-end of year Additional information: Special General Fund Revenue Fund Total $ 294,000 26,600 4,800 325,400 $ 18,700 $ 294,000 45,300 4,800 18,700 344,100 4,900 142,500 15,200 157,700 22,800 22,800 116,300 116,300 4,900 8,400 8,400 $ 294,900 $ 15,200 $ 310,100 30,500 3,500 34,000 39,400 39,400 7,100 7,100 (7,100) (7,100) 32,300 7,100 39,400 62,800 10,600 73,400 23,500 7,600 31,100 $ 86,300 $ 18,200 $ 104,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $35,500 at the end of 2023 and $38,900 at the end of 2024. b. The current year's provision for depreciation totaled $64,300. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $133,100. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Revenues Property Taxes TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities For the Year Ended December 31, 2024 General Fund Special Revenue Fund Total Adjustments to Government-wide Statement of Activities Intergovernmental Revenues Miscellaneous Total Revenues Expenditures or Expenses Current Personnel Services Supplies Depreciation Capital Outlay Debt Service Principal Interest Total Expenditures $ 294,000 $ 294,000 26,600 $ 18,700 45,300 4,800 4,800 325,400 18,700 344,100 142,500 15,200 157,700 22,800 22,800 116,300 116,300 4,900 4,900 8,400 8,400 $ 294,900 S 15,200 $ 310,100 30,500 3,500 34,000 Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources (Uses): Issuance of debt Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net change in Fund Balance or Net Position Fund Balance or Net Position, January 1 39,400 39,400 7,100 7,100 (7,100) (7,100) 32,300 7,100 39,400 62,800 10,600 73,400 23,500 7,600 31,100 Fund Balance or Net Position, December 31 S 86,300 S 18,200 $ 104,500
Transcribed Image Text:Revenues Property Taxes TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities For the Year Ended December 31, 2024 General Fund Special Revenue Fund Total Adjustments to Government-wide Statement of Activities Intergovernmental Revenues Miscellaneous Total Revenues Expenditures or Expenses Current Personnel Services Supplies Depreciation Capital Outlay Debt Service Principal Interest Total Expenditures $ 294,000 $ 294,000 26,600 $ 18,700 45,300 4,800 4,800 325,400 18,700 344,100 142,500 15,200 157,700 22,800 22,800 116,300 116,300 4,900 4,900 8,400 8,400 $ 294,900 S 15,200 $ 310,100 30,500 3,500 34,000 Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources (Uses): Issuance of debt Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net change in Fund Balance or Net Position Fund Balance or Net Position, January 1 39,400 39,400 7,100 7,100 (7,100) (7,100) 32,300 7,100 39,400 62,800 10,600 73,400 23,500 7,600 31,100 Fund Balance or Net Position, December 31 S 86,300 S 18,200 $ 104,500
Presented below is the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Trinity Parish Fire District, a special-purpose entity engaged in a single governmental activity. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2024 Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Excess of revenues and other sources over (under) expenditures and other uses Fund balance-beginning of year Fund balance-end of year Additional information: Special General Fund Revenue Fund Total $ 294,000 26,600 4,800 325,400 $ 18,700 $ 294,000 45,300 18,700 4,800 344,100 142,500 15,200 157,700 22,800 22,800 116,300 116,300 4,900 4,900 8,400 8,400 $ 294,900 $ 15,200 $ 310,100 30,500 3,500 34,000 39,400 39,400 7,100 7,100 (7,100) (7,100) 32,300 7,100 39,400 62,800 10,600 73,400 23,500 7,600 31,100 $ 86,300 $ 18,200 $ 104,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $35,500 at the end of 2023 and $38,900 at the end of 2024. b. The current year's provision for depreciation totaled $64,300. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $133,100. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign.
Transcribed Image Text:Presented below is the Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances for the Trinity Parish Fire District, a special-purpose entity engaged in a single governmental activity. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances For the Year Ended December 31, 2024 Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Excess of revenues and other sources over (under) expenditures and other uses Fund balance-beginning of year Fund balance-end of year Additional information: Special General Fund Revenue Fund Total $ 294,000 26,600 4,800 325,400 $ 18,700 $ 294,000 45,300 18,700 4,800 344,100 142,500 15,200 157,700 22,800 22,800 116,300 116,300 4,900 4,900 8,400 8,400 $ 294,900 $ 15,200 $ 310,100 30,500 3,500 34,000 39,400 39,400 7,100 7,100 (7,100) (7,100) 32,300 7,100 39,400 62,800 10,600 73,400 23,500 7,600 31,100 $ 86,300 $ 18,200 $ 104,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $35,500 at the end of 2023 and $38,900 at the end of 2024. b. The current year's provision for depreciation totaled $64,300. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $133,100. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign.
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