) Prepare the reconciliation of total fund balance to net assets for governmental activities for the following City, given the following inform All governmental funds' fund balances Deferred revenue related to property taxes Accrued interest on long-term liabilities General capital assets Accumulated depreciation on capital assets General long-term liabilities: Bonds payable for capital assets Liability for compensated absences nternal service fund serving governmental activities $13,000,000 2,000,000 1,200,000 10,800,000 4,100,000 5,700,000 3,200,000
) Prepare the reconciliation of total fund balance to net assets for governmental activities for the following City, given the following inform All governmental funds' fund balances Deferred revenue related to property taxes Accrued interest on long-term liabilities General capital assets Accumulated depreciation on capital assets General long-term liabilities: Bonds payable for capital assets Liability for compensated absences nternal service fund serving governmental activities $13,000,000 2,000,000 1,200,000 10,800,000 4,100,000 5,700,000 3,200,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:1) Prepare the reconciliation of total fund balance to net assets for governmental activities for the following City, given the following information.
All governmental funds' fund balances
Deferred revenue related to property taxes
Accrued interest on long-term liabilities
General capital assets
Accumulated depreciation on capital assets
General long-term liabilities:
Bonds payable for capital assets
Liability for compensated absences
Internal service fund serving governmental activities
Net assets
Capital assets net of accumulated depreciation
Liability, capital related
$13,000,000
2,000,000
1,200,000
10,800,000
4,100,000
5,700,000
3,200,000
3,000,000
1,700,000
500,000
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