Question

Statement preparation-General Fund Using the following data, prepare a statement of revenues, expenditures, and changes in fund balance for the General Fund of Jasmin City for the year ended December 31, 2019. Miscellaneous revenues $ 180,000 Licenses and permits revenues 1,000,000 Education program expenditures 2,000,000 Public safety expenditures 4,000,000 Transfers to other funds 1,500,000 Property tax revenues 7,000,000 State and federal grants 2,000,000 Parks program expenditures 750,000 Highways program expenditures 900,000 Transfers from other funds 700,000 Fund balance at beginning of year 1,500,000 NOTE: Use negative signs with answers in the far right column only to indicate an answer of Total other financing uses (rather than sources), a negative net change in fund k

Answer 1

in 10,180,000 Jasmin City General fund Statement of Revenues Expenditures & Changes fund Balance by the year ended Decemos Rove Particulas Revenues Property Taxes Zoodoco licenses & Permits 4000,000 Staté & federal grants 2,000,000 Miscellaneous o 180,000 Total Revenues. - Expenditures: Education PE program 2,000,000 Parks program • 750,000 Public Safety 4,000,000 Highways program Total Expenditure Excess of evenues over expenditures: Other financing sources (uses)! Transfers in 700.000 Transfers out. 12500000) Total other financing soween (ares) Net change in fund balance fund balance, beginning of the year. fund balance, and of the year. 900.000 (7650,000 2530,000 (800,000) 4730,000 1.500.000 3,230,000