The funds of a county government report the following noncurrent asset acquisitions during the year: General fund $4,000,000 Capital projects fund 9,000,000 Special revenue fund 500,000 Internal service fund 1,000,000 Enterprise fund 5,200,000 Fiduciary funds 200,000 On the government-wide statement of net position, what amount of the above acquisition will be capitalized as assets? Select one: A. $14,500,000 B. $ 6,200,000 C. $19. 50O 000

The funds of a county government report the following noncurrent asset acquisitions during the year: General fund $4,000,000 Capital projects fund 9,000,000 Special revenue fund 500,000 Internal service fund 1,000,000 Enterprise fund 5,200,000 Fiduciary funds 200,000 On the government-wide statement of net position, what amount of the above acquisition will be capitalized as assets? Select one: A. $14,500,000 B. $ 6,200,000 C. $19. 50O 000

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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