The following information is for the governmental funds (total) of Bell County for 20X6. Assume the deferred tax revenues meet the earnings criteria.
Deferred Tax Revenues (January 1) . . . . . . . . . . . . . . . . . . . . $ 800,000
Deferred Tax Revenues (December 31) . . . . . . . . . . . . . . . . . 1,300,000
Tax Revenues (20X6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,000,000
a. Explain the worksheet adjustments to derive the tax revenues to be reported for governmental activities in the government-wide financial statements.
b. Compute the governmental activities tax revenues to be reported in Bell County’s government-wide Statement of Activities for 20X6.