The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets (gross) Less: Accumulated Depreciation Net Capital Assets Beginning Balance Additions Retirements $493,000 (201,000) $292,000 Ending Balance (76,000) $517,000 100,000 (32,000) 23.000 (210,000) 68,000 (53,000) $307,000 All capital acquisitions were made in a capital projects fund (and paid for with cash). An asset was sold by the general fund for $61,000 cash. Determine how the above information will be reflected on each of the following statements for the year 2025. 1. The governmental funds' statement of revenue, expenditures, and changes in fund balances. List the governmental fund and then list the dollar amount within the appropriate heading on the statement (such as Revenues, Expenditures, or Other Financing Sources (Uses)). Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance For the year ended December 31, 2025 General Fund Capital Projects Fund Debt Service Fund Total Governmental Funds

The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets (gross) Less: Accumulated Depreciation Net Capital Assets Beginning Balance Additions Retirements $493,000 (201,000) $292,000 Ending Balance (76,000) $517,000 100,000 (32,000) 23.000 (210,000) 68,000 (53,000) $307,000 All capital acquisitions were made in a capital projects fund (and paid for with cash). An asset was sold by the general fund for $61,000 cash. Determine how the above information will be reflected on each of the following statements for the year 2025. 1. The governmental funds' statement of revenue, expenditures, and changes in fund balances. List the governmental fund and then list the dollar amount within the appropriate heading on the statement (such as Revenues, Expenditures, or Other Financing Sources (Uses)). Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance For the year ended December 31, 2025 General Fund Capital Projects Fund Debt Service Fund Total Governmental Funds

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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