Question: This question is completed, not sure what the Expert is asking, Read it again. Also I am not paying you $3 per your answer, I
This question is completed, not sure what the "Expert" is asking, Read it again. Also I am not paying you $3 per your answer, I am already paying Chegg $17.99 per months.






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. Compensated absences (such as vacations and sick days) legally owed to general government workers at year-end total $13,000. 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 $14,000. 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 $103,000 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. a-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. Complete this question by entering your answers in the tabs below. Prepare a statement of activities for governmental activities for December 31, 2017. Prepare a statement of net position for governmental activities for December 31,2017 . (Amounts to be deducted should be indicated by a minus sign.) Ie general fund as of December 31 , Complete this question by entering your answers in the tabs below. 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. Compensated absences (such as vacations and sick days) legally owed to general government workers at year-end total $13,000. 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 $14,000. 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 $103,000 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. a-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. Complete this question by entering your answers in the tabs below. Prepare a statement of activities for governmental activities for December 31, 2017. Prepare a statement of net position for governmental activities for December 31,2017 . (Amounts to be deducted should be indicated by a minus sign.) Ie general fund as of December 31 , Complete this question by entering your answers in the tabs below
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