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8 months ago
Presented below is information for the governmental activities for the City of Pleasant Hill for the year ended December 31, 20X9 (all amounts are in thousands of dollars).

General property taxes revenue      $13,000
Unrestricted grants      4,000
Restricted grants for public safety      1,200
Capital grants for highways      300
Increase in fair value of investments      70
Interest on investments      108
Principal paid on general long-term liabilities       1,100
Interest expense on general long-term liabilities      100
Expenses:
   General government      1,700
   Public safety      4,200
   Highways and streets      2,100
   Health and welfare      3,000
Fees charged for health and welfare programs      270
Transfer to Enterprise Fund      2,500
Collection of interfund advance to Enterprise Fund      1,000
Proceeds from sale of public safety vehicle (book value of $25)      7
Net position, governmental activities, January 1, 20X9      3,017

Requirement:   Prepare in good form a statement of activities for governmental activities only for 20X9.
Some professors may want to give students a blank sheet of paper to complete this problem. Another option is the lined and labeled paper available in an Excel file, Ch13P-2. The solution is in Excel file, Ch13P-2S.
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Using: Governmental and Nonprofit Accounting: Theory and Practice, 11e (Freeman)
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