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.
In P14-5,
Tierney County
Total Governmental Funds
Preclosing Trial Balance
December 31, 20X5

Debit Credit

Additional Information
1. The beginning trial balance of the general capital assets and general long-term liabilities accounts at January 1, 20X5, was:

2. The balance of the long-term claims and judgments obligation at December 31, 20X5, 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 government, public safety, streets and roads, and health and sanitation functions.
4. The bond issuance occurred at year end. The equipment purchases occurred at the beginning 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 Deferred 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 Streets and Roads.
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 years. Use straight-line amortization.
10. The county depreciates machinery and equipment over 5 years, buildings over 20 years, and streets and roads over 30 years. Assume zero salvage values.
11. Depreciation expense on the buildings and on the machinery and equipment is associated with functions as follows: General Government, 10%; Public Safety, 50%; Streets and Roads, 25%; Health and Sanitation, 10%; and Parks and Recreation, 5%.
12. The capital asset sold was equipment, which cost $500,000 and had accumulated depreciation 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 billings 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 TierneyCounty.

Debit Credit 1,348,200 7,355,600 3,500 189,000 Cash Investments. Taxes Receivable Allowance for Uncollectible Taxes... Interest and Penalties Receivable Allowance for Uncollectible Interest and Penalties. Accounts Receivable... Allowance for Uncollectible Accounts .. Accrued Interest Receivable Inventory of Materials and Supplies .. Vouchers Payable Accrued Salaries and Wages Payable..... .. Contracts Payable-Retained Percentage 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: S38,500 476 1,750 5,250 45,500 191,800 16,450 1,016,400 17,500 350,000 1,050 360,500 525,000 11550 3,500 107,800 695,049 3,395,000 311,500 133,000 367,500 420,000 7,231,000 600,000 7,000 es Licenses and Permits Fines and Forfeitures Unrestricted Grants Operating Grants Investment Income. Current Operating Expenditures/Expenses: General Government Public Safety Streets and Roads. Health and Sanitation Parks and Recreation 274,400 1,417,500 861,700 162,400 65,100 Capital Outlay Expenditures: 8.890.000 203,700 For Construction For Equipment Debt Service Expenditures: 700,000 356,475 52,500 35,000 Bond Principal Retirement. . Interest on Bonds Fiscal Agent Fees Other Financing Sources: on Bond Premium.. . . Proceeds from Sale of General Capital Assets- . 6,300,000 42,000 175,000 Transfers from General Fund Transfers from Special Revenue Funds.. Transfers from Enterprise Funds 616,000 70,000 63,000 Other Financing Uses: Transfers to Capital Projects Funds Transfers to Debt Service Funds.... 56,000 560,000 70,000 Totals $22,860,075 22,860,075 Debit Credi S 465,500 4,375,000 1,400,000 7,000,000 Buildings. Accumulated Depreciation-Build Machinery and Equipment. Accumulated Depreciation-Machinery and Equipment Streets and Roads Accumulated Depreciation-Streets and Roads Bonds Payable Premium on Bonds Payable Liability for Claims and Judgments-Long-Term Compensated Absences Liability-Long-Term Net Position ings 2,730,000 525,000 4,200,000 2,800,000 70,000 490.000 350,000 t 2,075,500 $13,240,500 $13,240,500