The following information is taken from Hamilton Township December 31, 2013, trial balance after all adjustments were made for preparation of the government wide financial statements. Hamilton Township has governmental activities but no business type activities.
The following information is taken from Hamilton Township December 31, 2013, trial balance after all adjustments were made for preparation of the government wide financial statements. Hamilton Township has governmental activities but no business type activities.
Using the appropriate format, prepare a statement of activities for the Town of Hamilton for the year ended December 31, 2013.Revenues property taxes…………. $ 3,250,000Revenues sales taxes…………. 2,175,000State operating aid, police program……… 410,000State operating aid, town road maintenance …. 250,000State capital aid, town road maintenance…… 50,000Fees, sanitation……………. 75,000Fees, programs for youth and seniors…….. 65,000Fees, parks admissions………….. 85,000Revenue from disposal of donated property ….. 425,000General government expenses……… 625,000Police program expenses …………… 2,615,000Road maintenance program expenses……… 975,000Sanitation program expenses ………… 1,410,000Parks and recreation program expenses…….. 525,000Youth and senior program expenses……… 325,000Net position, beginning of year ……… 3,125,000
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