Question

The following information comes from the General Fund trial balance of West Chester County as of December 31, 2012. Prepare the county’s General Fund statement of revenues, expenditures, and changes in fund balance for the year ended December 31, 2012. Consider the proceeds from the sale and leaseback of an office building as a special item.
Sales tax revenues.............. $ 2,200,000
Property tax revenues .............. 2,000,000
Expenditures— county sheriff ......... 1,500,000
Expenditures— all other departments........ 2,600,000
Fund balance, January 1, 2012 ........... 300,000
Transfer out to Debt Service Fund ......... 1,000,000
Proceeds, sale and leaseback of office building .... 1,500,000



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  • CreatedDecember 30, 2014
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