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, 2020: Expenses: General government Public safety Public works $10,440,000 24,000,000 12,890,000 6,310,000 4,307,000 1,031,000 12,550,000 428,000 Health and sanitation Culture and recreation Interest on long-term debt, governmental type Water and sewer system Parking system Revenues: Charges for services, general government Charges for services, public safety Operating grant, public safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, parking system 1,181,000 1,510,000 708,000 2,455,000 1,310,000 2,241,000 13,778,000 300,000 28,212,000 21,698,000 320,000 1,315,000 873,000 13,222,000 23,333,000 Property taxes Sales taxes Investment earnings, business-type Special item-gain on sale of unused land, governmental type Transfer from governmental activities to business-type activities Net position, July 1, 2019, governmental activities Net position, July 1, 2019, business-type activities

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, 2020: Expenses: General government Public safety Public works $10,440,000 24,000,000 12,890,000 6,310,000 4,307,000 1,031,000 12,550,000 428,000 Health and sanitation Culture and recreation Interest on long-term debt, governmental type Water and sewer system Parking system Revenues: Charges for services, general government Charges for services, public safety Operating grant, public safety Charges for services, health and sanitation Operating grant, health and sanitation Charges for services, culture and recreation Charges for services, water and sewer Charges for services, parking system 1,181,000 1,510,000 708,000 2,455,000 1,310,000 2,241,000 13,778,000 300,000 28,212,000 21,698,000 320,000 1,315,000 873,000 13,222,000 23,333,000 Property taxes Sales taxes Investment earnings, business-type Special item-gain on sale of unused land, governmental type Transfer from governmental activities to business-type activities Net position, July 1, 2019, governmental activities Net position, July 1, 2019, business-type activities

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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