The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for the year ended September 30, 2020: Revenues: Property taxes Sales taxes $27,280,000 13,413,000 1,422,000 1,820,000 2,465,000 751,000 Fees and fines Licenses and permits Intergovernmental Investment earnings Expenditures: Current: General government Public safety Public works 11,749,000 24,469,000 6,237,000 1,189,000 2,181,000 1,145,000 849,000 1,837,000 Health and sanitation Culture and recreation Transfer to capital project fund Special item-proceeds from sale of land Fund balance, October 1, 2019
The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for the year ended September 30, 2020: Revenues: Property taxes Sales taxes $27,280,000 13,413,000 1,422,000 1,820,000 2,465,000 751,000 Fees and fines Licenses and permits Intergovernmental Investment earnings Expenditures: Current: General government Public safety Public works 11,749,000 24,469,000 6,237,000 1,189,000 2,181,000 1,145,000 849,000 1,837,000 Health and sanitation Culture and recreation Transfer to capital project fund Special item-proceeds from sale of land Fund balance, October 1, 2019
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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From the information given above, prepare a General Fund Statement of Revenues, Expenditures, and Changes in Fund Balances for the City of Eastern Shores General Fund for the year ended September 30, 2020. (Negative entries should be entered with a minus sign and will appear in parenthesis.)
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