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.

Required
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.

Debit Credit 1,500,000 3,000,000 75,000 5,000,000 Cash Investments Due from Special Revenue Funds .. Taxes Receivable Allowance for Uncollectible Taxes Interest and Penalties Receivable Allowance for Uncollectible Interest and Penalties Inventory of Materials and Supplies : Vouchers Payable.... Accrued Salaries and Wages Payable. Unearned Operating Grant Revenues. Due to Internal Service Fund Due to Enterprise Fund Due to General Fund Deferred Revenues (Per 60-day rule Fund Balance (Preclosing). .. . Revenues: $40,000 300,000 100,000 47,000 600.000 140,000 90,000 33,000 80,000 75,000 2,000,000 8,124,000 4,500,000 68,000 17,000 100,000 20,000 Taxes Licenses and Permits Investment Income Operating Grants Current Operating Expenditures/Expenses: General Government. Public Safety Highways and Streets Health and Sanitation . 495,000 1,500,000 1,700,000 1,300,000 750,000 Debt Service Expenditures: Principal Retirement Interest . .. 100,000 150,000 Other Financing Sources: Transfers from General Fund 111,000 Other Financing Use Transfers to Capital Projects Funds Transfers to Debt Service Funds . Transfers to Enterprise Funds 35,000 76,000 70,000 $16.098.000 Totals $16.098.000 Debit Credit Land.. Buildings Accumulated Depreciation-Buildings Equipment. Accumulated Depreciation-Equipment Bonds Payable Net Position s 300,000 3,500,000 20-year life S 750,000 8,000,000 10-year life 5,000,000 2,000,000 4,050,000 $11,800,00 $11,800,000 Totals