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Solutiondone 2-180

The Walland County School District reported the following revenues and expenses for the year ended December 31, 20X5 in its Statement of Activities: Total revenues of $64.2 million including property taxes, grants, and charges for services. Total expenses of $67.3 million for instructional, support, noninstructional, extracurricular activities, food service, and adult education. Net position increased by $3.1 million to $7.85 million for governmental activities and decreased by $44,822 to $1.355 million for business-type activities.

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12 views1 page

Solutiondone 2-180

The Walland County School District reported the following revenues and expenses for the year ended December 31, 20X5 in its Statement of Activities: Total revenues of $64.2 million including property taxes, grants, and charges for services. Total expenses of $67.3 million for instructional, support, noninstructional, extracurricular activities, food service, and adult education. Net position increased by $3.1 million to $7.85 million for governmental activities and decreased by $44,822 to $1.355 million for business-type activities.

Uploaded by

trilocksp Singh
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Prepare a Statement of Activities for the Walland County

School
Prepare a Statement of Activities for the Walland County School District for the year ended
December 31, 20X5, given the following information. Assume that the classifications provided
for expenses are the appropriate functional classifications to be presented in the
statement.Property tax revenues . . . . . . . . . . . . . . . . . . . . $48,000,000Unrestricted grants and
entitlements . . . . . . . . . . . . 11,200,000Unrestricted contributions . . . . . . . . . . . . . . . . .
80,000Unrestricted investment income . . . . . . . . . . . . . . 790,000Transfers from General Fund
to Enterprise Funds . . . . . 100,000Charges for services provided by:Instructional departments .
. . . . . . . . . . . . . . . . 1,050,000Support services . . . . . . . . . . . . . . . . . . . . . .
440,000Noninstructional services . . . . . . . . . . . . . . . . . . 10,000Extracurricular activities . . . . . .
. . . . . . . . . . . . 320,000Food service (Enterprise Fund activity) . . . . . . . . . . . 1,500,000Adult and
community education (EnterpriseFund activity) . . . . . . . . . . . . . . . . . . . . . . . . 844,822Grants
and contributions revenues—restrictedfor specific operating costs of specific
programs:Instructional departments . . . . . . . . . . . . . . . . . . 800,000Support services . . . . . . . . .
. . . . . . . . . . . . . 750,000Noninstructional services . . . . . . . . . . . . . . . . . 490,000Extracurricular
activities . . . . . . . . . . . . . . . . . 51,000Food service . . . . . . . . . . . . . . . . . . . . . . . .
365,000Grants and contributions revenues—restrictedfor capital asset acquisitions for specific
functions:Instructional departments . . . . . . . . . . . . . . . . 720,000Support services . . . . . . . . . . . .
. . . . . . . . . 55,100Expenses:Instructional departments . . . . . . . . . . . . . . . 34,000,000Support
services . . . . . . . . . . . . . . . . . . . . 27,000,000Noninstructional services . . . . . . . . . . . . . . . .
575,000Extracurricular activities . . . . . . . . . . . . . . . . 1,340,000Food service . . . . . . . . . . . . . . . .
. . . . . . 1,880,000Adult and community education . . . . . . . . . . . 884,000Net position, January 1,
20X5:Governmental activities . . . . . . . . . . . . . . . . 6,850,000Business-type activities . . . . . . . . .
. . . . . . . 1,400,000 View Solution: Prepare a Statement of Activities for the Walland County
School
SOLUTION-- http://solutiondone.online/downloads/prepare-a-statement-of-activities-for-the-
walland-county-school/

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