Hamilton Township has governmental activities but no business-type activities. The following information is taken from Hamilton...

Transcribed Image Text:

Hamilton Township has governmental activities but no business-type activities. The following information is taken from Hamilton Township's December 31, 2022, trial balance after all adjustments were made for preparation of the government-wide financial statements. Hamilton Township Trial Balance Revenues-property taxes Revenues-sales taxes $3,250,000 2,175,000 State operating aid-police program 410,000 State operating aid-town road maintenance 250,000 State capital aid-town road maintenance 50,000 Fees-sanitation 75,000 Fees-programs for youth and seniors 65,000 Fees-parks admissions 85,000 Revenue from sale of donated property 425,000 General government expenses 625,000 Police program expenses 2,615,000 Road maintenance program expenses 975,000 Sanitation program expenses 1,410,000 Parks and recreation program expenses 525,000 Youth and senior program expenses 325,000 Net position--beginning of year 3,125,000 Using the appropriate format, prepare a statement of activities for Hamilton Township for the year ended December 31, 2022. (Assume that revenues from sales of donated property are reported as special items.) Enter revenues in order of magnitude (largest to smallest) Hamilton Township Statement of Activities For the Year Ended December 31, 2022 Functions General government Police Road maintenance Sanitation Parks and recreation Youth and senior Total government General revenues: x Special item - revenue from sale of donated property Total general revenues and special items Change in net position Net position at end of year x Program Revenues Expenses Charges for Services Operating Grants Capital Grants Net (Expenses) Revenues and Changes in Net Position $ (625,000) x $ 0 $ 0 $ $ 0 x (2,615,000) x 410,000 0 x (975,000) x 0 250,000 50,000 0 x (1,410,000) x 75,000 0 0 x (525,000) x 85,000 0 0 0 x (325,000) x 65,000 0 0 0x $(6,475,000) x $ 225,000 $ 660,000 $ 0 x $ 0 x $ 0 x 0x 0 x 0 x 0 x 0 x $ 3,435,000 Hamilton Township has governmental activities but no business-type activities. The following information is taken from Hamilton Township's December 31, 2022, trial balance after all adjustments were made for preparation of the government-wide financial statements. Hamilton Township Trial Balance Revenues-property taxes Revenues-sales taxes $3,250,000 2,175,000 State operating aid-police program 410,000 State operating aid-town road maintenance 250,000 State capital aid-town road maintenance 50,000 Fees-sanitation 75,000 Fees-programs for youth and seniors 65,000 Fees-parks admissions 85,000 Revenue from sale of donated property 425,000 General government expenses 625,000 Police program expenses 2,615,000 Road maintenance program expenses 975,000 Sanitation program expenses 1,410,000 Parks and recreation program expenses 525,000 Youth and senior program expenses 325,000 Net position--beginning of year 3,125,000 Using the appropriate format, prepare a statement of activities for Hamilton Township for the year ended December 31, 2022. (Assume that revenues from sales of donated property are reported as special items.) Enter revenues in order of magnitude (largest to smallest) Hamilton Township Statement of Activities For the Year Ended December 31, 2022 Functions General government Police Road maintenance Sanitation Parks and recreation Youth and senior Total government General revenues: x Special item - revenue from sale of donated property Total general revenues and special items Change in net position Net position at end of year x Program Revenues Expenses Charges for Services Operating Grants Capital Grants Net (Expenses) Revenues and Changes in Net Position $ (625,000) x $ 0 $ 0 $ $ 0 x (2,615,000) x 410,000 0 x (975,000) x 0 250,000 50,000 0 x (1,410,000) x 75,000 0 0 x (525,000) x 85,000 0 0 0 x (325,000) x 65,000 0 0 0x $(6,475,000) x $ 225,000 $ 660,000 $ 0 x $ 0 x $ 0 x 0x 0 x 0 x 0 x 0 x $ 3,435,000

Answer rating: 100% (QA)

ANSWER Hamilton Township Statement of Activities For the year ended December 31 2022 Program Revenue... View the full answer