Presented below is the governmental funds Statement of Revenues, Expenditures, and Changes in…

Presented below is the governmental funds Statement of Revenues, Expenditures, and Changes in…

Presented below is the governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balance the Trinity Parish Fire District, a special-purpose entity engaged in a single governmental activity. Prepare a combined Governmental Funds Balance Sheet/Statement of Net Assets in the format presented in Illustration 9–3.

Additional information:

a. Property taxes expected to be collected more than 60 days following year-end are deferred in the fund-basis statements. Deferred taxes totaled $22,000 at the end of 2011 and $36,000 at the end of 2012.

b. The current year provision for depreciation totaled $52,000.

c. Interest on long-term notes payable is paid monthly (no accrual is necessary).

d. Total Net Assets on the December 31, 2011, Statement of Net Assets totaled $140,000.

 

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