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 $3,630,000 814,000 605,000 1,226,000 487,000 9,803,000 10,488,000 606,000 615,000 5,106,000 3,056,000 4,697,000 7,432,000 702,000 216,000 From the preceding information, prepare, in good form, a Statement of Net Position for the city of Southern Springs as of April 30, 2024. Calculate and include the unrestricted net position. Include a total column. Note: Calculate and include the unrestricted net position.
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 $3,630,000 814,000 605,000 1,226,000 487,000 9,803,000 10,488,000 606,000 615,000 5,106,000 3,056,000 4,697,000 7,432,000 702,000 216,000 From the preceding information, prepare, in good form, a Statement of Net Position for the city of Southern Springs as of April 30, 2024. Calculate and include the unrestricted net position. Include a total column. Note: Calculate and include the unrestricted net position.
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
$3,630,000
814,000
605,000
1,226,000
487,000
9,803,000
10,488,000
606,000
615,000
5,106,000
3,056,000
4,697,000
7,432,000
702,000
216,000
From the preceding information, prepare, in good form, a Statement of Net Position for the city of Southern Springs as of April 30,
2024. Calculate and include the unrestricted net position. Include a total column.
Note: Calculate and include the unrestricted net position.
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