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The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities $ 3,840,000 878,000 649,000 Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities 1,328,000 519,000 Capital assets, net, governmental activities 10,580,000 Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities 11,329,000 649,000 658,000 5,442,000 3,205,000 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 5,138,000 8,124,000 753,000 223,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017.

The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities $ 3,840,000 878,000 649,000 Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities 1,328,000 519,000 Capital assets, net, governmental activities 10,580,000 Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities 11,329,000 649,000 658,000 5,442,000 3,205,000 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 5,138,000 8,124,000 753,000 223,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities $ 3,840,000 878,000 649,000 Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities 1,328,000 519,000 Capital assets, net, governmental activities 10,580,000 Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities 11,329,000 649,000 658,000 5,442,000 3,205,000 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 5,138,000 8,124,000 753,000 223,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017.
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, 2017: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities $ 3,840,000 878,000 649,000 Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities 1,328,000 519,000 Capital assets, net, governmental activities 10,580,000 Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities 11,329,000 649,000 658,000 5,442,000 3,205,000 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 5,138,000 8,124,000 753,000 223,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017.
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