Answer:
$2,289,500
Explanation:
Preparation of the schedule to show the amount of revenue that should be reported by Gilbert’s general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X8
Gilbert City
REVENUE REPORTED by the General Fund
For the Year Ended June 30, 20X8
Property tax revenue $1,862,000
[$2,000,000-$100,000-($2,000,000-$100,000)*2%)]
Interest revenue on advance $1,500
Grant revenue used to acquire computer equipment $235,000
Sales tax revenue $125,000
Liquor license revenue $66,000
Total revenue reported $2,289,500
Therefore the amount of revenue that should be reported by Gilbert’s general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X8 is $2,289,500
