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The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020: Expenses: General government Public safety Public works Health and sanitation $ 10,000,000 23,000,000 11,890,000 6,210,000

The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020: Expenses: General government Public safety Public works Health and sanitation $ 10,000,000 23,000,000 11,890,000 6,210,000

FINANCIAL ACCOUNTING
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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The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020: Expenses: General government Public safety Public works Health and sanitation Culture and recreation Interest on long-term debt, governmental type Water and sewer system Parking system Revenues: Charges for services, general government Charges for services, public safety Operating grant, public safety Charges for services, health and sanitation. Operating grant, health and sanitation Charges for services, culture and recreation. Charges for services, water and sewer Charges for services, parking system Property taxes Sales taxes Investment earnings, business-type Special item-gain on sale of unused land, governmental type Transfer from governmental activities to business-type activities Net position, July 1, 2019, governmental activities Net position, July 1, 2019, business-type activities $ 10,000,000 23,000,000 11,890,000 6,210,000 4,198,000 1,021,000 11,550,000 419,000 1,110,000 1,410,000 698,000 2,355,000 1,210,000 2,198,000 12,678,000 298,000 27,112,000 20,698,000 319,000 1,250,000 888,000 12,222,000 22,333,000 From the above information, prepare a Statement of Activities for the City of Northern Pines for the year ended June 30, 2020. Northern Pines has no component units. (Negative entries should be entered with a minus sign and will appear in parenthesis.)
Transcribed Image Text:The following information is available for the preparation of the government-wide financial statements for the City of Northern Pines for the year ended June 30, 2020: Expenses: General government Public safety Public works Health and sanitation Culture and recreation Interest on long-term debt, governmental type Water and sewer system Parking system Revenues: Charges for services, general government Charges for services, public safety Operating grant, public safety Charges for services, health and sanitation. Operating grant, health and sanitation Charges for services, culture and recreation. Charges for services, water and sewer Charges for services, parking system Property taxes Sales taxes Investment earnings, business-type Special item-gain on sale of unused land, governmental type Transfer from governmental activities to business-type activities Net position, July 1, 2019, governmental activities Net position, July 1, 2019, business-type activities $ 10,000,000 23,000,000 11,890,000 6,210,000 4,198,000 1,021,000 11,550,000 419,000 1,110,000 1,410,000 698,000 2,355,000 1,210,000 2,198,000 12,678,000 298,000 27,112,000 20,698,000 319,000 1,250,000 888,000 12,222,000 22,333,000 From the above information, prepare a Statement of Activities for the City of Northern Pines for the year ended June 30, 2020. Northern Pines has no component units. (Negative entries should be entered with a minus sign and will appear in parenthesis.)
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