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The following alphabetic listing displays selected balances in the governmental activities accounts of Westover Village as...

The following alphabetic listing displays selected balances in the governmental activities accounts of Westover Village as of June 30, 2017. Assume that beginning net position is $1,753 (in thousands) and that there were no changes in net position during the year other than those reflected in the selected account balances shown. For simplicity, assume that the village does not have business-type activities or component units.

  

WESTOVER VILLAGE
Governmental Activities
Selected Account Balances (in thousands)
For the Year Ended June 30, 2017
Debits Credits
  Expenses—Culture and Recreation 12,462
Expenses—General Government 9,681
  General Revenues—Property Taxes 56,410
  General Revenues—Unrestricted Grants and Contributions 1,310
  Expenses—Health and Sanitation 6,958
  Expenses—Interest on Long-term Debt 6,178
  General Revenues—Investment Earnings 2,068
  Expenses—Public Safety 34,954
  Program Revenue—Culture and Recreation—Charges for Services 4,105
  Program Revenue—Culture and Recreation—Operating Grants 2,560
  Program Revenue—General Government—Charges for Services 3,256
  Program Revenue—General Government—Operating Grants 953
  Program Revenue—Health and Sanitation—Charges for Services 5,722
  Program Revenue—Public Safety—Capital Grants 73
  Program Revenue—Public Safety—Charges for Services 1,308
  Program Revenue—Public Safety—Operating Grants 1,417
  Special Item—Gain on Sale of Park Land 3,583

  

Prepare a (partial) statement of activities. (Enter your answers in thousands.)
WESTOVER VILLAGE
Statement of Activities (Partial)
For the Year Ended June 30, 2017
(in thousands)
Program Revenues Net (Expense) Revenue and Changes in Net Assets
Functions/Programs Expenses Charges for
Services		 Operating
Grants		 Capital
Grants
Primary Government:
0
0
0
0
0
Total Governmental Activities $0 $0 $0 $0 0
General Revenues:
Total general revenues 0
Total general revenues and special items 0
Change in net position
Net position—July 1, 2016
Net position—June 30, 2017 $0

Solutions

Expert Solution

Westover Village
Statement Of activities (Partial)
For the year ended June 30, 2017
(In thousands)
Program Revenue Net (Expense) Revenue and Changes in Net Assets
Functions/Programs Expenses Charges for services Operating grants Capital Grants
Primary Government A B C D (B+C+D) - A
General Government $         9,681 $           3,256 $        953 $   -   $        -5,472
Public safety $       34,954 $           1,308 $    1,417 $ 73 $      -32,156
Health and Sanitation $         6,958 $           5,722 $           -   $   -   $        -1,236
Culture and recreation $       12,462 $           4,105 $    2,560 $   -   $        -5,797
Interest on long-term debt $         6,178 $                  -   $           -   $   -   $        -6,178
Total governmental activities (1) $      -50,839
General Revenues
Property Taxes $       56,410
Unrestricted grants and contributions $          1,310
Investment Earnings $          2,068
Total general revenues $       59,788
Special Item-gain on sale of Park Land $          3,583
Total general revenues and Special Items (2) $       63,371
Change in Net Position (1) + (2) $       12,532
Net Position-July 1, 2016 $          1,753
Net Position-June 30, 2017 $       14,285

ekkarill92 answered 1 year ago
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