Clemens County had the following revenue sources in 20X5: General property taxes . . . . .

Question:

Clemens County had the following revenue sources in 20X5:

General property taxes . . . . . . . . . . . . . . . . . . . . . . . . . . .$8,000,000

Restricted (for education) property taxes . . . . . . . . . . . . . . . . 570,000

Meals tax (restricted for economic development and tourism) . . . . .200,000

Fines and forfeits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82,000

Federal grant restricted for police protection . . . . . . . . . . . . . . . 132,000

Federal grant restricted for specific general government

construction projects for specific functions . . . . . . . . . . . . . . 600,000

Unrestricted investment income . . . . . . . . . . . . . . . . . . . . . 75,000


Required

Prepare a schedule computing the amount of general revenues and of program revenues that Clemens County should report in its government-wide Statement of Activities for the 20X5 fiscal year.


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Governmental and Nonprofit Accounting

ISBN: 978-0132751261

10th edition

Authors: Robert Freeman, Craig Shoulders, Gregory Allison, Robert Smi

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