Question

Problem 17-9(LO 3) Statement of activities. From the following information, prepare a statement of activities for the city of Rose as of June 30, 2019. Expenses General government Public works Culture and recreation $1,300,000 240,000 1,000,000 650,000 450,000 60,000 1,500,000 45,000 Revenues: 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 . Property taxes Sales taxes Investment earnings, business-ype 100,000 25,000 70,000 250,000 150,000 200,000 1,800,000 40,000 2,500,000 2,000,000 30,000 140,000 70,000 1,400,000 2,500.000 . . . .. . . Special item--gain on sale of unused land, governmental type . . .. Transfer from governmental activities to businesstype activities...... Net position, July 1,2018, business-type octivities . . ..

Answer 1

PREPARATION OF THE STATEMENT BASED ON ACTIVITIES:- (in 000s)

. ^{generalgovt. publicsafety health culture water&sewage system parking system total}

revenue:-

charges for services 100 25 250 200 1800 40 2415

operating grant - 70 150 - - - 220

property tax 2500 - - - - - 2500

sales tax 2000 - - - - - 2000

gain on sale of land 140 - - - - - 140

  

Total (A) 7275

EXPENSES:-

expenses 1300 1240 650 450 1500 45 5185

interest on debt 60 - - - - - 60

total(B) 5245

(A) - (B) 2030

add:- net position on july 1,2018, government activities 140

(C)NET POSITION ON JUNE 2019 (government activities) 2170

(D) NET POSITION ON JUNE 19 (Business activities) 2600

NET POSITION ON july 18 - 2500

add:-

investment earnings - 30  

transfer from govt to business activites- 70