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.