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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, 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 Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Set 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 $3,540,000 807,000 598,000 1,219,000 9,711,000 10,418,000 599,000 999,000 500,000 ses.co 5,836.000 2,900,000 4,747,000 7,482,000 695,000 209,000

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 Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Set 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 $3,540,000 807,000 598,000 1,219,000 9,711,000 10,418,000 599,000 999,000 500,000 ses.co 5,836.000 2,900,000 4,747,000 7,482,000 695,000 209,000

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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es Exercise 2-7 (Algo) 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 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 $3,500,000 807,000 598,000 1,219,000 480,000 9,711,000 10,418,8 599,0 B66 CON 5,036, 2,966, 4,747,000 7,482,000 655,000 209,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. (Calculate and include the unrestricted net position.)
Transcribed Image Text:es Exercise 2-7 (Algo) 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 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 $3,500,000 807,000 598,000 1,219,000 480,000 9,711,000 10,418,8 599,0 B66 CON 5,036, 2,966, 4,747,000 7,482,000 655,000 209,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. (Calculate and include the unrestricted net position.)
S Assets: Total Assets Liabilities: Total Liabilities Net position: Total Net Position Statement of Net Position As of April 30, 2020 Governmental Activities S $ $ Business Type Activities 0$ 0 $ 0$ Prav S 05 $ 0$ $ 0$ Total 0 # 0 0 0 0 0 0 0 0 01 0 0 0 0 0 Next C
Transcribed Image Text:S Assets: Total Assets Liabilities: Total Liabilities Net position: Total Net Position Statement of Net Position As of April 30, 2020 Governmental Activities S $ $ Business Type Activities 0$ 0 $ 0$ Prav S 05 $ 0$ $ 0$ Total 0 # 0 0 0 0 0 0 0 0 01 0 0 0 0 0 Next C
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