neverive Fully TULBA Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Fund balance beginning of year Excess of revenues and other sources over (under) expenditures and other uses. Fund balance end of year Additional information: $ 284,000 29,700 4,800 318,500 $ 20,100 20,100 $ 284,000 49,800 4,800 338,600 145,500 14,100 159,600 22,500 22,500 115,000 115,000 5,000 5,000 7,800 7,800 $295,800 $ 14,100 $ 309,900 22,700 6,000 28,700 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 53,400 13,700 67,100 24,200 8,200 32,400 $ 77,600 $ 21,900 $ 99,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $37,100 at the end of 2023 and $40,600 at the end of 2024. b. The current year's provision for depreciation totaled $53,700. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $138,200. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities For the Year Ended December 31, 2024 General Fund Special Revenue Fund Total Adjustments to Government-wide Statement of Activities Revenues Property Taxes Intergovernmental Revenues Miscellaneous Total Revenues S 284,000 $ 29,700 S 20,100 284,000 49,800 4,800 4,800 318,500 20,100 338,600 0 0 Expenditures or Expenses Current Personnel Services 145,500 14,100 159,600 Supplies 22,500 22,500 Depreciation Capital Outlay Debt Service Principal Interest Total Expenditures Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources (Uses): 115,000 115,000 5,000 5,000 7,800 7,800 $ 295,800 $ 14,100 $ 309,900 $ 0 $ 22,700 6,000 28,700 Issuance of debt Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net change in Fund Balance or Net Position Fund Balance or Net Position, January 1 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 0 53,400 13,700 67,100 24,200 8,200 32,400 Fund Balance or Net Position, December 31 $ 77,600 $ 21,900 $ 99,500 0

neverive Fully TULBA Revenues Property taxes Intergovernmental Miscellaneous Total revenues Expenditures Current Personnel services Supplies Capital outlay Debt service Principal Interest Total expenditures Excess of revenues over expenditures Other financing sources (uses): Issuance of debt Transfers from other funds Transfers to other funds Total other financing sources (uses) Fund balance beginning of year Excess of revenues and other sources over (under) expenditures and other uses. Fund balance end of year Additional information: $ 284,000 29,700 4,800 318,500 $ 20,100 20,100 $ 284,000 49,800 4,800 338,600 145,500 14,100 159,600 22,500 22,500 115,000 115,000 5,000 5,000 7,800 7,800 $295,800 $ 14,100 $ 309,900 22,700 6,000 28,700 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 53,400 13,700 67,100 24,200 8,200 32,400 $ 77,600 $ 21,900 $ 99,500 a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $37,100 at the end of 2023 and $40,600 at the end of 2024. b. The current year's provision for depreciation totaled $53,700. c. Interest on long-term notes payable is paid monthly (no accrual is necessary). d. Total Net Position on December 31, 2023, Statement of Net Position totaled $138,200. Requried: Prepare a Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balances or Statement of Activities. Note: Amounts to be deducted should be indicated by a minus sign. TRINITY PARISH FIRE DISTRICT Governmental Funds: Statement of Revenues, Expenditures, and Changes in Fund Balances or Statement of Activities For the Year Ended December 31, 2024 General Fund Special Revenue Fund Total Adjustments to Government-wide Statement of Activities Revenues Property Taxes Intergovernmental Revenues Miscellaneous Total Revenues S 284,000 $ 29,700 S 20,100 284,000 49,800 4,800 4,800 318,500 20,100 338,600 0 0 Expenditures or Expenses Current Personnel Services 145,500 14,100 159,600 Supplies 22,500 22,500 Depreciation Capital Outlay Debt Service Principal Interest Total Expenditures Excess (Deficiency) of Revenues Over Expenditures Other Financing Sources (Uses): 115,000 115,000 5,000 5,000 7,800 7,800 $ 295,800 $ 14,100 $ 309,900 $ 0 $ 22,700 6,000 28,700 Issuance of debt Transfers from Other Funds Transfers to Other Funds Total Other Financing Sources (Uses) Net change in Fund Balance or Net Position Fund Balance or Net Position, January 1 38,400 38,400 7,700 7,700 (7,700) (7,700) 30,700 7,700 38,400 0 53,400 13,700 67,100 24,200 8,200 32,400 Fund Balance or Net Position, December 31 $ 77,600 $ 21,900 $ 99,500 0

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 9GI: Give an example and explanation for each of the following differences between when revenues are...

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