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.) CITY OF EASTERN SHORESGeneral Fund Statements of Revenues,Expenditures, and Changes in Fund BalanceFor the Year Ended September 30, 2020Revenues:Total RevenuesExpenditures:Current:Total ExpendituresExcess of Revenues Over ExpendituresOther Financing Sources (Uses):Net Chin Fund BalanceFund Balance, Beginning of YearFund Balance, End of Year The following General Fund information is available for the preparation of the financial statements for the City of Eastern Shores for theyear ended September 30, 2020:Revenues :$27,280,00013,413,0001,422,0001,820,0002,465,000751,000Property taxesSales taxesFees and finesLicenses and permitsIntergovernmentalInvestment earningsExpenditures:Current:General governmentPublic safetyPublic works11,749,00024,469,0006,237,0001,189,0002,181,0001,145,000849,0001,837,000Health and sanitationCulture and recreationTransfer to capital project fundSpecial item-proceeds from sale of landFund balance, October 1, 2019

The General Fund Statement of Revenue: It is a statement prepared for government fund-related…

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

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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