Scarlett City's general fund activities for 2019 are summarized below. Accounts are maintained on a modified accrual basis consistent with GAAP. Prepare in good form a statement of revenues, expenditures, and changes in fund balance for 2019 for the city's general fund. Assume that the city reports revenues by source and expenditures by function. Assume also that 75 percent of the wages and salaries are attributable to public safety and 25 percent to general administration. Insurance is attributable in total to general administration.

Question

Scarlett City's general fund activities for 2019 are summarized below. Accounts are maintained on a modified accrual basis consistent with GAAP.  Prepare in good form a statement of revenues, expenditures, and changes in fund balance for 2019 for the city's general fund. Assume that the city reports revenues by source and expenditures by function. Assume also that 75 percent of the wages and salaries are attributable to public safety and 25 percent to general administration. Insurance is attributable in total to general administration.

Quizplus · Accepted Answer

The Answer of Scarlett City's general fund activities for 2019 are summarized below. Accounts are maintained on a modified accrual basis consistent with GAAP.  Prepare in good form a statement of revenues, expenditures, and changes in fund balance for 2019 for the city's general fund. Assume that the city reports revenues by source and expenditures by function. Assume also that 75 percent of the wages and salaries are attributable to public safety and 25 percent to general administration. Insurance is attributable in total to general administration.

Scarlett City's General Fund Activities for 2019 Are Summarized Below