(Operating Statement Conversion Worksheet-Governmental Activities) Using the data from P14-5, prepare the operating statement conversion worksheet needed to derive government-wide, governmental activities data for Tierney County for 20X5

P14-5 (Balance Sheet Conversion Worksheet - Governmental Activities) Credit 38,500 476 1,750 1,016,400 17,500 350,000 1,050 360,500 525,000 11,550 3,500 107,800 695,049 Tierney County Total Governmental Funds Preclosing Trial Balance December 31, 20X5 Debit Cash $ 1,348,200 Investments 7,355,600 Due from General Fund... 3,500 Taxes Receivable-Delinquent. 189,000 Allowance for Uncollectible Taxes - Delinquent Interest and Penalties Receivable .. 5,250 Allowance for Uncollectible Interest and Penalties Accounts Receivable.... 45,500 Allowance for Uncollectible Accounts. Accrued Interest Receivable 191,800 Inventory of Materials and Supplies. 16,450 Vouchers Payable....... Accrued Salaries and Wages Payable Contracts Payable--Retainage Interest Payable (on Current Debt) Unearned Operating Grant Revenues Unearned Capital Grant Revenues... Due to Enterprise Fund Due to Special Revenue Funds Deferred Tax Revenues. Fund Balance (Preclosing) Revenues: Taxes Licenses and Permits.. Fines and Forfeitures.. Intergovernmental-Unrestricted Grants Intergovernmental - Operating Grants Intergovernmental - Capital Grants. Investment Income Other Revenues... Current Operating Expenditures/Expenses: General Government 274,400 Public Safety..... 1,417,500 Highways and Streets 861,700 Health and Sanitation. 162,400 Culture and Recreation, 65,100 Capital Outlay Expenditures: For Construction 8,890,000 For Equipment. 203,700 Debt Service Expenditures: Bond Principal Retirement.. 700,000 Interest on Bonds 356,475 Fiscal Agent Fees 52,500 Bond Issue Costs 35,000 Other Financing Sources: Bonds Bond Premium... Proceeds from Sale of General Capital Assets... Transfers from General Fund... Transfers from Special Revenue Funds. Transfers from Enterprise Funds... 3,395,000 311,500 133,000 367,500 420,000 7,231,000 600,000 7,000 6,300,000 42,000 175,000 616,000 70,000 63,000 610 CHAPTER 14 Financial Reporting Debit Credit Other Financing Uses: Transfers to Capital Projects Funds.. Transfers to Debt Service Funds Transfers to General Fund Totals.. 56,000 560,000 70,000 $22,860,075 $22,860,075 Additional Information 1. The beginning trial balance of the general capital assets and general long-term liabilities accounts at January 1, 20X5, was: Debit Credit Land, $ 465,500 Buildings.. 4,375,000 Accumulated Depreciation-Buildings $ 2,730,000 Furniture and Equipment.. 1,400,000 Accumulated Depreciation -- Furniture and Equipment 525,000 Infrastructure. 7,000,000 Accumulated Depreciation - Infrastructure 4,200,000 Bonds Payable.... 2,800,000 Premium on Bonds Payablc.. 70,000 Claims and Judgments Payable-Long-Term. 490,000 Compensated Absences Payable-Long-Term 350,000 Net Position 2,075,500 $13,240,500 $13,240,500 2. The balance of the long-term claims and judgments obligation at December 31, 2045, was $450,000. All claims and judgments of the county are related to health and sanitation. 3. The balance of the long-term liability for compensated absences at December 31, 20X5, was $425,000. Compensated absence liabilities are generated equally by the general govern- ment, public safety, highways and streets, and health and sanitation functions. 4. The bond issuance occurred at year end. The equipment purchases occurred at the begin- ning of the year 5. The January 1, 20X5, balance of Accrued Salaries and Wages Payable was $25,000. 6. The January 1, 20X5, balance of Delerred Tax Revenues was $84,000. 7. The operating grants revenues were associated with Public Safety ($100,000) and Health and Sanitation. The capital grants were associated with Highways and Streets. 8. The accrued interest associated with bonds at December 31, 20X5, was $99,000. The January 1, 20X5, balance was $87,500. 9. The remaining term of the bonds payable with the premium ($70,000) is 10 ycars. Use straight-line amortization. 10. The county does not use the modified approach to account for infrastructure assets. The county depreciates furniture and equipment over 5 years, buildings over 20 years, and infrastructure over 30 years. Assume zero salvage values. 11. Depreciation expense on the buildings and on the furniture and equipment is associated with functions as follows: General Government, 10%; Public Safety, 50%; Highways and Streets, 25%; Health and Sanitation, 10%; and Culture and Recreation, 5%. 12. The capital asset sold was equipment, which cost $500,000 and had accumulated deprecia- tion at the January 1 sale date of $400,000. 13. The county's only Internal Service Fund provides 75% of its services to Enterprise Funds and sets its billings equal to its costs of providing services. The Internal Service Fund bill- ings to general governmental departments during the year totaled $100,000. Billings of $25,000 were associated with each functional category of expenditures except Parks and Recreation Required The December 31, 20X5, total fund balance (postclosing) was $6,721,274. Prepare a balance sheet conversion worksheet to derive government-wide, governmental activities data for Tierney County. (Alternative Requirement: Prepare the worksheet conversion entries required for this information using the one-worksheet approach in Appendix 14-2.) P14-6 (Operating Statement Conversion Worksheet-Governmental Activities) Using the data from P14-5, prepare the operating statement conversion worksheet needed to derive government- wide, governmental activities data for Tierney County for 20X5. Alert. Perkarlshornuersion entries required for this information