CPA · Question 15 · Area I: Financial Reporting
Harbor City's General Fund had the following transactions during the fiscal year:<br/>- Property tax revenue (measurable and available): $2,500,000<br/>- Federal grant received for road maintenance: $400,000<br/>- Bond proceeds from general obligation bonds: $1,200,000<br/>- Transfer to Debt Service Fund: $150,000<br/><br/>What amount should Harbor City report as revenues in its General Fund for the fiscal year?
Answer options:
$2,500,000
$2,900,000
$4,100,000
$4,250,000
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