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The City of Terrytown Reports the Following Information:
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question 13

Essay

The City of Terrytown reports the following information:
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 Government Activities:  General-Direct Expenses 85,000 Police-Direct Expenses 115,000 Fire Safety-Direct Expenses 95,000 Public Works-Direct Expenses 185,000 Recreation-Direct Expenses 75,000 Library-Direct Expenses 140,000 Interest on Long term Debt-Direct 30,000 Police-Indirect Allocation 20,000 Fire Safety-Indirect Allocation 25,000 Public Works-Indirect Allocation 25,000 Recreation-Indirect Allocation 10,000 Library-Indirect Allocation 20,000 Charges for Police service 90,000 Charges for Fire Safety 50,000 Charges for Public Works 105,000 Charges for Recreation 45,000 Charges for Library 25,000 Operating Grants for Fire Safety 15,000 Capital Grants for Library 75,000\begin{array} { l r } \text { Government Activities: } & \\\text { General-Direct Expenses } & 85,000 \\\text { Police-Direct Expenses } & 115,000 \\\text { Fire Safety-Direct Expenses } & 95,000 \\\text { Public Works-Direct Expenses } & 185,000 \\\text { Recreation-Direct Expenses } & 75,000 \\\text { Library-Direct Expenses } & 140,000 \\\text { Interest on Long term Debt-Direct } & 30,000 \\\text { Police-Indirect Allocation } & 20,000 \\\text { Fire Safety-Indirect Allocation } & 25,000 \\\text { Public Works-Indirect Allocation } & 25,000 \\\text { Recreation-Indirect Allocation } & 10,000 \\\text { Library-Indirect Allocation } & 20,000 \\\text { Charges for Police service } & 90,000 \\\text { Charges for Fire Safety } & 50,000 \\\text { Charges for Public Works } & 105,000 \\\text { Charges for Recreation } & 45,000 \\\text { Charges for Library } & 25,000 \\\text { Operating Grants for Fire Safety } & 15,000 \\\text { Capital Grants for Library } & 75,000\end{array} There are no business type activities for this city or other component units.Taxes raised for general revenues equal $200,000 and taxes raised for debt service equal $25,000.Other general revenues were generated through fines, fees, and permits that total $100,000.The city also sold a plot of land for a gain of $10,000.The beginning of the year net assets totaled $155,000.
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Required:
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Prepare a statement of activities schedule for the city.


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