neverive Fully TULBA Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Fund balance beginning of year Excess of revenues and other sources over (under) expenditures and other uses. Fund balance end of year Additional information: $ 284,000 29,700 4,800 318,500 $ 20,100 20,100 $ 284,000 49,800 4,800 338,600 145,500 14,100 159,600 22,500 22,500 115,000 115,000 5,000 5,000 7,800 7,800 $295,800 $ 14,100 $ 309,900 22,700 6,000 28,700 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 53,400 13,700 67,100 24,200 8,200 32,400 $ 77,600 $ 21,900 $ 99,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $37,100 at the end of 2023 and $40,600 at the end of 2024. b. The current year's provision for depreciation totaled $53,700. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $138,200. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities For the Year Ended December 31, 2024 General Fund Special Revenue Fund Total Adjustments to Government-wide Statement of Activities Revenues Property Taxes Intergovernmental Revenues Miscellaneous Total Revenues S 284,000 $ 29,700 S 20,100 284,000 49,800 4,800 4,800 318,500 20,100 338,600 0 0 Expenditures or Expenses Current Personnel Services 145,500 14,100 159,600 Supplies 22,500 22,500 Depreciation Capital Outlay Debt Service Principal Interest Total Expenditures Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources (Uses): 115,000 115,000 5,000 5,000 7,800 7,800 $ 295,800 $ 14,100 $ 309,900 $ 0 $ 22,700 6,000 28,700 Issuance of debt Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net change in Fund Balance or Net Position Fund Balance or Net Position, January 1 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 0 53,400 13,700 67,100 24,200 8,200 32,400 Fund Balance or Net Position, December 31 $ 77,600 $ 21,900 $ 99,500 0

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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gener a rullu
neverve rullu
TULOA
Revenues
Property taxes
Intergovernmental
Miscellaneous
Total revenues
Expenditures
Current
Personnel services
Supplies
Capital outlay
Debt service
Principal
Interest
Total expenditures
Excess of revenues over expenditures
Other financing sources (uses):
Issuance of debt
Transfers from other funds
Transfers to other funds
Total other financing sources (uses)
Fund balance beginning of year
Excess of revenues and other sources over (under) expenditures and other uses
Fund balance end of year
Additional information:
$ 284,000
29,700
4,800
$ 20,100
318,500
20,100
$ 284,000
49,800
4,800
338,600
145,500
22,500
14,100
159,600
22,500
115,000
115,000
5,000
7,800
5,000
7,800
$ 295,800
$ 14,100
$ 309,900
22,700
6,000
28,700
38,400
38,400
7,700
7,700
(7,700)
(7,700)
30,700
7,700
38,400
53,400
13,700
67,100
24,200
8,200
32,400
$ 77,600
$ 21,900
$ 99,500
a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred
taxes totaled $37,100 at the end of 2023 and $40,600 at the end of 2024.
b. The current year's provision for depreciation totaled $53,700.
c. Interest on long-term notes payable is paid monthly (no accrual is necessary).
d. Total Net Position on December 31, 2023, Statement of Net Position totaled $138,200.
Requried:
Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities.
Note: Amounts to be deducted should be indicated by a minus sign.
Revenues
TRINITY PARISH FIRE DISTRICT
Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities
For the Year Ended December 31, 2024
General
Fund
Special Revenue
Fund
Total
Adjustments to
Government-wide
Statement of
Activities
Property Taxes
Intergovernmental Revenues
Miscellaneous
Total Revenues
S
284,000
$
29,700 $
20,100
284,000
49,800
4,800
318,500
20,100
4,800
338,600
0
0
Expenditures or Expenses
Current
Personnel Services
145,500
14,100
159,600
Supplies
22,500
22,500
Depreciation
Capital Outlay
Debt Service
115,000
115,000
Principal
5,000
5,000
Interest
7,800
7,800
Total Expenditures
$ 295,800 $
Excess (Deficiency) of Revenues Over Expenditures
22,700
14,100 $
6,000
309,900 $
0 $
0
28,700
Other Financing Sources (Uses):
Issuance of debt
Transfers from Other Funds
Transfers to Other Funds
Total Other Financing Sources (Uses)
Net change in Fund Balance or Net Position
Fund Balance or Net Position, January 1
38,400
38,400
7,700
7,700
(7,700)
(7,700)
30,700
7,700
38,400
0
53,400
13,700
67,100
24,200
8,200
32,400
Fund Balance or Net Position, December 31
$ 77,600 $
21,900 $
99,500
$
0
Transcribed Image Text:gener a rullu neverve rullu TULOA Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Fund balance beginning of year Excess of revenues and other sources over (under) expenditures and other uses Fund balance end of year Additional information: $ 284,000 29,700 4,800 $ 20,100 318,500 20,100 $ 284,000 49,800 4,800 338,600 145,500 22,500 14,100 159,600 22,500 115,000 115,000 5,000 7,800 5,000 7,800 $ 295,800 $ 14,100 $ 309,900 22,700 6,000 28,700 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 53,400 13,700 67,100 24,200 8,200 32,400 $ 77,600 $ 21,900 $ 99,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $37,100 at the end of 2023 and $40,600 at the end of 2024. b. The current year's provision for depreciation totaled $53,700. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $138,200. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign. Revenues TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities For the Year Ended December 31, 2024 General Fund Special Revenue Fund Total Adjustments to Government-wide Statement of Activities Property Taxes Intergovernmental Revenues Miscellaneous Total Revenues S 284,000 $ 29,700 $ 20,100 284,000 49,800 4,800 318,500 20,100 4,800 338,600 0 0 Expenditures or Expenses Current Personnel Services 145,500 14,100 159,600 Supplies 22,500 22,500 Depreciation Capital Outlay Debt Service 115,000 115,000 Principal 5,000 5,000 Interest 7,800 7,800 Total Expenditures $ 295,800 $ Excess (Deficiency) of Revenues Over Expenditures 22,700 14,100 $ 6,000 309,900 $ 0 $ 0 28,700 Other Financing Sources (Uses): Issuance of debt Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net change in Fund Balance or Net Position Fund Balance or Net Position, January 1 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 0 53,400 13,700 67,100 24,200 8,200 32,400 Fund Balance or Net Position, December 31 $ 77,600 $ 21,900 $ 99,500 $ 0
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