As of December 31, 2022, Sandy Beach had $9,800,000 in 6.5 percent serial bonds outstanding. Cash of $433,000 Ist debt service fund's only asset as of December 31, 2022, and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1, with $500,000 in bonds being retired on each interest payment date. Resources f payment of Interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufficient to cover principal payments. quired Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended December 31, 2023. SANDY BEACH Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended December 31, 2023 venues Appropriations penditures: al Expenditures cess of Expenditures Over Revenues mer Financing Sources (Uses): rease in Fund Balance nd Balance, January 1, 2023 nd Balance, December 31, 2023 $
As of December 31, 2022, Sandy Beach had $9,800,000 in 6.5 percent serial bonds outstanding. Cash of $433,000 Ist debt service fund's only asset as of December 31, 2022, and there are no liabilities. The serial bonds pay interest semiannually on January 1 and July 1, with $500,000 in bonds being retired on each interest payment date. Resources f payment of Interest are transferred from the General Fund, and the debt service fund levies property taxes in an amount sufficient to cover principal payments. quired Prepare a statement of revenues, expenditures, and changes in fund balances for the debt service fund for the year ended December 31, 2023. SANDY BEACH Debt Service Fund Statement of Revenues, Expenditures and Changes in Fund Balance For the Year Ended December 31, 2023 venues Appropriations penditures: al Expenditures cess of Expenditures Over Revenues mer Financing Sources (Uses): rease in Fund Balance nd Balance, January 1, 2023 nd Balance, December 31, 2023 $
Chapter1: Financial Statements And Business Decisions
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