1 - The information included below relates to the city of Chicago for the year ended June...
Question:
1 - The information included below relates to the city of Chicago for the year ended June 30, 2015. Using this information, prepare a statement of Revenue, Expenditures and Changes in Fund Balance as of year-end. Also provide a Governmental Fund Balance Sheet.
Short Term Notes Payable | $25 | Property Tax Revenue | $600 |
Cash | $156 | Proceeds from L/T Bonds | $100 |
Investments | $120 | Proceeds from the sale of capital assets | $30 |
Salary and Wages Payable | $60 | Pension Expenditures | $50 |
Voucher Payable | $40 | Grant Revenue | $20 |
Deferred Inflow of Resources | $22 | Interest Expenditure | $40 |
Nonreciprocal Transfer out to DSF | $125 | Deferred Outflow of Resources | $72 |
Supplies Inventory | $21 | Fund Balance, beginning | $45 |
Supplies Expenditure | $90 | Sales Tax Revenue | $190 |
Utilities Expenditure | $6 | Salary and Wage Expenditures | $452 |
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely