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Preparation of financial statements for city of eastern

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Reference no: EM131795642

Problem - The following general fund information is available for the preparation of the financial statements for the city of Eastern Shores for the year ended September 30, 2009:

Revenues:

Property taxes                                                             $16,000,000

Sales taxes                                                                  23,216,000

Fees and fines                                                               1,124,000

Licenses and permits                                                     1,921,000

Intergovernmental                                                         868,000

Investment earnings                                                      654,000

Expenditures:

Current:

General government                                                      8,192,000

Public safety                                                                  24,444,000

Public works                                                                  6,211,000

Health and sanitation                                                      1,193,000

Culture and recreation                                                    2,154,000

Debt service-principal                                                     652,000

Debt service-interest                                                      821,000

Proceeds of long-term, capital-related debt                       1,210,000

Transfer to special revenue fund                                      1,119,000

Special item-proceeds from sale of land                            821,000

Fund balance, October 1, 2008                                         13,211,000

Reference no: EM131795642

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