Financing for the renovation of Fir City's municipal park, started and completed during 2015, came from the following sources:

Grant from State Government ………………........…………. $ 400,000

Proceeds from General Obligation Bond Issue …..…….. $ 500,000

Transfer from Fir's General Fund …………………........…….$ 100,000

In its 2015 Statement of Revenues, Expenditures, and Changes in Fund Balances, how should Fir City report these amounts (choose one of the following options)?

Revenues Other Financing Sources

a. $1,000,000 $ 0

b. 900,000 $ 100,000

c. 400,000 $ 600,000

d. 0 $ 1,000,000

Answer rating: 100% (QA)

Revenues ... View the full answer