Please fix Req. A1.A2.B1 and do Req.B2

The following information pertains to the City of Williamson for 2017, its first year of legal existence. For convenience, assume that all transactions are for the general fund, which has three separate functions: general government, public safety, and health and sanitation. $418,000 45,100 6,500 4,800 45,200 388,000 186,000 68,300 34,100 20,100 Receipts: Property taxes Franchise taxes Charges for general government services Charges for public safety services Charges for health and sanitation services Issued long-term note payable Receivables at end of year: Property taxes (904 estimated to be collectible) Payments: Salary: General government Public safety Health and sanitation Rent: General government Public safety Health and sanitation Maintenance: General government Public safety Health and sanitation Insurance: General government Public safety ($4,400 still prepaid at end of year) Health and sanitation Interest on debt Principal payment on debt Storage shed Equipment Supplies (20% still held) (public safety) Investments Ordered but not received: Equipment 12,800 11,888 5,700 30, 200 6,300 11,300 10,400 14,400 15,400 24,640 6,160 189,000 119,000 16,500 102,000 15,500 Return to question 15,500 Equipment Due in one month at end of year: Salaries: General government Public safety Health and sanitation 6,600 8,400 10,800 Compensated absences (such as vacations and sick days) are legally owed to general government workers at year-end total $18,900. These amounts will not be taken by the employees until so late in 2018 that the payment is not viewed as requiring 2017 current financial resources. The city received a piece of art this year as a donation. It is valued at $23,800. It will be used for general government purposes. There are no eligibility requirements. The city chose not to capitalize this property. The general government uses the storage shed that was acquired this year. It is being depreciated over 10 years using the straight-line method with no salvage value. The city uses the equipment for health and sanitation and depreciates it using the straight-line method over five years with no salvage value. The investments are valued at $120,300 at the end of the year. For the equipment that has been ordered but not yet received, the City Council (the highest decision-making body in the government has voted to honor the commitment when the equipment is received. 2-1. Prepare a statement of activities for governmental activities for December 31, 2017 a-2. Prepare a statement of net position for governmental activities for December 31, 2017 b-1. Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund as of December 31, 2017. Assume that the city applies the consumption method. b-2. Prepare a balance sheet for the general fund as of December 31, 2017 Assume that the city applies the consumption method. Answer is not complete. Prev 1 of 12 Next > Return to a Reg A1 Reg A2 Req B1 Reg B2 Prepare a statement of activities for governmental activities for December 31, 2017. CITY OF WILLIAMSON Statement of Activities For Year Ended December 31, 2017 Program Revenues Charges Operating Capital Functions/Programs Expenses for Grants and Grants and Services Contributions Contributions Governmental activities General government $ 189,900 $ 6,500S 23,800 $ (159,600) Public safety 83,800 4,800 79,000 Health and sanitation 87,100 45,200 41,900 Interest on debt 24,640 24,640 Net (Expense) Revenue and Changes in Net Position Business- Governmental Activities type Activities Total $ 385.440 $ 56,500 $ 23,800 $ (14,060) $ 0 $ 0 $ 0 Total governmental activities General revenues: Property taxes Franchise taxes Investments (gain) > ololo X -513400 45100 18300 576800 513400 45100 $ 0 $ 0 $ 0 Total general revenues Change in net position Net position beginning Net position-ending 0 0 0 0 0 S 0 $ 0 Prev 1 of 12 : Next > neck my work Answer is not complete. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Req B1 Req B2 Prepare a statement of net position for governmental activities for December 31, 2017. (Amounts to be indicated by a minus sign.) Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com Prepare a statement of net position for governmental activities for December 31, 2017. (Amounts to be deducted should be Indicated by a minus sign.) CITY OF WILLIAMSON Statement of Net Position December 31, 2017 Governmental Activities Business- type Activities Total Assets: Cash and cash equivalents Prepaid expenses Investments Receivables (net) Inventories Capital assets (net) + 4,400 120,300 95,400 3,300 265,300 $ 52,200 4.400 120,300 95,400 3,300 265,300 Olo $ 488,700 s 0 $540,900 Total assets Liabilities: Salaries payable Compensated absences liability Noncurrent liabilities OOO 25,800 18,900 301,840 25,800 18,900 301,840 $ 346,540 $ 0 $346,540 Total Liabilities Net position invested in capital assets, net of related debt Unrestricted (deficit) olo (36,540) 230,900 (35,540) 230.900 X Total net position $ 194.360 S 0 $ 194,350 Prev 1 of 12 Next > Reg A1 Reg A2 Req B1 Req B2 Prepare a statement of revenues, expenditures, and other changes in fund balances for the general fund as of December 31, 2017. Assume that the city applies the consumption method. CITY OF WILLIAMSON Statement of Revenues, Expenditures, and Other Changes in Fund Balances Governmental Funds For Year Ended December 31, 2017 Total General Fund Government Funds Revenues: Property taxes $ 513.400 $ 513,400 Franchise taxes 45,100 45,100 Charges for services 56,500 56,500 Investments (gain) 18,300 18,300 $ 633,300 $ 633,300 Total revenues Expenditures: General government Public safety Health and sanitation $ ooo $ 128,300 83,800 63,300 128,300 83,800 63,300 Debt service: Principal payment on debt Interest on debt Capital outlay 6,160 24,640 308,000 6,160 24,640 308,000 Prev 1 of 12 Next > Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It $ 633,300 633,300 Total revenues Expenditures: General government Public safety Health and sanitation $ 128,300 83,800 63,300 128,300 83,800 63,300 Debt service: Principal payment on debt Interest on debt Capital outlay 6,160 24,640 308,000 6,160 24,640 308,000 Total expenditures $ $ 614,200 $ 19,400 614,200 19,100 $ Other financing sources: Proceeds from long-term note 308,000 308,000 $ Total other sources Net changes in fund balance Fund balances (Beginning) Fund balances (Ending) $ 308,000 327,100 327,100 X $ 654,200 308,000 327,100 327,100 654,200 $ MacBook Air