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From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 3 outstanding bonds were issued to acquire capital assets and restricted assets total $701,000 for governmental ac for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities $ Total 0

From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 3 outstanding bonds were issued to acquire capital assets and restricted assets total $701,000 for governmental ac for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities $ Total 0

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $701,000 for governmental activities and $245,000 for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: Total Assets Liabilities: Total Liabilities Net Position: Total Net Position CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities $ 0 Business-Type Activities 0 $ 0 0 $ $ Total 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Transcribed Image Text:From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $701,000 for governmental activities and $245,000 for business-type activities. (Negative amounts should be indicated by a minus sign) Assets: Total Assets Liabilities: Total Liabilities Net Position: Total Net Position CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities $ 0 Business-Type Activities 0 $ 0 0 $ $ Total 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities $ 480,000 1,010,000 570,000 1,683,000 660,000 17,133,000 9,010,000 823,000 709,000 9,893,000 4,070,000 456,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $701,000 for governmental activities and $245,000 for business-type activities. (Negative amounts should be indicated by a minus sign)
Transcribed Image Text:The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities $ 480,000 1,010,000 570,000 1,683,000 660,000 17,133,000 9,010,000 823,000 709,000 9,893,000 4,070,000 456,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $701,000 for governmental activities and $245,000 for business-type activities. (Negative amounts should be indicated by a minus sign)
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