(Answered) Question - town of carver has a 245000 net assets balance

Accounting

Question - Town of Carver has a $245,000 Net Assets Balance at the beginning of the year. Information listed below relates to the year end accounting for 9/30/14

Receipts

Property Taxes 430,000

Franchise Taxes 110,000

Charges for Public Safety 8,000

Charges for Sanitation 6,000

Payments

Salaries

General Government 62,000

Public Safety 44,000

Sanitation 37,000

Rent

General Government 16,000

Public Safety 14,000

Sanitation 10,000

Maintenance

General Government 5,000

Public Safety 3,000

Sanitation 1,000

Insurance

General Government 4,000

Public Safety 1,000

Sanitation 2,000

Final Pmt on Debt 10,000

Interest on Debt 12,000

Objective: Prepare a statement of activities with the correct heading.

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