Problem

The following information regarding the fiscal year ended December 31, 2014, was drawn fro...

The following information regarding the fiscal year ended December 31, 2014, was drawn from the accounts and records of the Volendam County general fund:

Revenues and Other Asset Inflows

 

Taxes

$10,000,000

Licenses and permits

2,000,000

Intergovernmental grants

300,000

Proceeds of short-term note issuances

1,000,000

Collection of interfund advance to other fund

450,000

Receipt of net position of terminated fund

2,000,000

Expenditures and Other Asset Outflows

 

General government expenditures

8,000,000

Public safety expenditures

1,500,000

Judicial system expenditures

1,000,000

Health and welfare expenditures

1,200,000

Equipment purchases

600,000

Payment to debt service fund to cover future debt service on general government bonds

320,000

Fund balance—unassigned, January 1, 2014

$3,130,000

REQUIRED: Prepare a statement of revenues, expenditures, and changes in fund balance for the Volendam County general fund for the year ended December 31, 2014.

Step-by-Step Solution

Request Professional Solution

Request Solution!

We need at least 10 more requests to produce the solution.

0 / 10 have requested this problem solution

The more requests, the faster the answer.

Request! (Login Required)


All students who have requested the solution will be notified once they are available.
Add your Solution
Textbook Solutions and Answers Search
Solutions For Problems in Chapter 20