he following information is available for the preparation of the government-wide financial statements for the city of Southern Sp s of April 30, 2024: 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 Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Net position, net investment in capital assets, governmental activities Net position, net investment in capital assets, business-type activities Net position, restricted for debt service, governmental activities Net position, restricted for debt service, business-type activities $3,870,000 775,000 650,000 1,130,000 520,000 10,600,000 11,350,000 650,000 659,000 5,550,000 3,500,000 5,050,000 7,850,000 754,000 223,000 equired: rom the preceding information, prepare a Statement of Net Position for the city of Southern Springs as of April 30, 2024. ude th
he following information is available for the preparation of the government-wide financial statements for the city of Southern Sp s of April 30, 2024: 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 Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Net position, net investment in capital assets, governmental activities Net position, net investment in capital assets, business-type activities Net position, restricted for debt service, governmental activities Net position, restricted for debt service, business-type activities $3,870,000 775,000 650,000 1,130,000 520,000 10,600,000 11,350,000 650,000 659,000 5,550,000 3,500,000 5,050,000 7,850,000 754,000 223,000 equired: rom the preceding information, prepare a Statement of Net Position for the city of Southern Springs as of April 30, 2024. ude th
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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, 2024:
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
Noncurrent liabilities, governmental activities
Noncurrent liabilities, business-type activities
Net position, net investment in capital assets, governmental activities
Net position, net investment in capital assets, business-type activities
Net position, restricted for debt service, governmental activities
Net position, restricted for debt service, business-type activities
$3,870,000
775,000
650,000
1,130,000
520,000
10,600,000
11,350,000
650,000
659,000
5,550,000
3,500,000
5,050,000
7,850,000
754,000
223,000
Required:
From the preceding information, prepare a Statement of Net Position for the city of Southern Springs as of April 30, 2024.
Note: Calculate and include the unrestricted net position.

Transcribed Image Text:Assets:
Total Assets
Liabilities:
Total Liabilities
Net position:
Total Net Position
CITY OF SOUTHERN SPRINGS
Statement of Net Position
As of April 30, 2024
Governmental
Activities
Business-Type
Activities
Total
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