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ACC - The city of Ponder reports the following revenues for the fiscal year




Question;PREPARATION FOR THE STATEMENT OF ACTIVITIESThe city of Ponder reports the following revenues for the fiscal yearReal estate and personal property taxesMotor vehicle and other excise taxesGrants and contribution not restrictedTotal general revenues and transfers$134,66470156904$148,583The city also reports the following revenues from fees it charges for services and operatinggrants and contributions it has received during the year as well as expenses it has incurred,categories by governmental activity:Functions/programsCharges for servicesOperating grants&contributionsExpensesPrimary governmentGovernmentalactivities:General governmentPublic safetyEducationPublic worksHuman servicesLibraryPension and benefitsinterest$667223320751651615126------------$1102585104953712621836219-------$1324215650109759658338242455105102423$6,881$19,217$164,446Total governmentalactivitiesThe city manages two business-type activities: a sanitation department which oversees solidand liquid waste disposal and a municipal pool. Both of these activities charge users a fee thatis set at the beginning of the year at a level that is anticipated to cover the costs of providing theservice. These fees cannot be changed during the year. As a result, these activities mayproduce a net profit or loss for the year, depending on the level of operating costs. Therevenues and expenses for these services are provided in the following table:Function/programsBusiness type activities:Charges for servicesExpensesSanitationMunicipal pool$8,776995$9,771$64741410$7,884Required: Prepare the city of Ponder statement of activities for the year (assume a beginningbalance for net Assets of $33,712 for Governmental activities and $67,552 for Business-type activities.)


Paper#42763 | Written in 18-Jul-2015

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