One-Worksheet Conversion—Governmental Activities—Appendix
Soucy Township
Total Governmental Funds
Preclosing Trial Balance
December 31, 20X7

Soucy Township
General Capital Assets and General Long-Term Liabilities Accounts
Trial Balance
January 1, 20X7

Additional Information
1. Deferred Revenues (other than for grants) at the beginning of the year were $2,200,000—all associated with taxes.
2. The operating grants were for Health and Sanitation.
3. Accrued interest payable at January 1, 20X7, was $50,000; at December 31, it was $47,500.
4. Depreciation expense on the buildings and on the equipment is associated with functions as follows: General Government, 10%; Public Safety, 50%; Highways and Streets, 25%; and Health and Sanitation, 15%. Assume zero salvage value.
5. The county and state own all of the roads in the township, but the township is responsible for most ongoing maintenance.

The December 31, 20X7, total fund balance (postclosing) was $6,764,000. Prepare a balance sheet conversion worksheet to derive government-wide, governmental activities data for SoucyTownship.

  • CreatedOctober 25, 2014
  • Files Included
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