Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
This topic contains 1 attachment.
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
derro derro
wrote...
Go to Answer
Posts: 866
Rep: 6 0
5 years ago
Note to Adopters: There are two versions of this problem: 3A, for the City of Floyd, contains the concept of “unspent proceeds” which is a complex addition to the problem; 3B, for the City of Raymond, excludes this concept. Choose the version that best fits what you covered in class.

Problem 3A – Net Position Calculations

The City of Floyd reports the following fund information (all amounts are in thousands of dollars):
   
All governmental funds’ fund balance      $13,000
Restricted fund balances:
   Special Revenue Fund      1,200
   Capital Projects Fund (unspent bond proceeds)      900
   Debt Service Fund      1,700
General capital assets      10,800
Accumulated depreciation on capital assets       4,100
General long-term liabilities:
Bonds payable for capital assets      5,700
Liability for compensated absences      3,200
Internal Service Fund serving governmental activities
   Net position      3,000
   Capital assets net of accumulated depreciation      1,700
   Liability, capital related      500
Requirement:   Prepare the net position section for governmental activities for the statement of net position for the City of Floyd for the year ended December 31, 20X9.
Textbook 
Governmental and Nonprofit Accounting

Governmental and Nonprofit Accounting


Edition: 11th
Authors:
Read 50 times
1 Reply
Replies
Answer verified by a subject expert
bolbolbolbol
wrote...
#1
Staff Member
Top Poster
Posts: 3162
Rep: 261 2
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
 Attached file 
(104.95 KB)
You must login or register to gain access to this attachment.
1

Related Topics

derro Author
wrote...

5 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
Smair87
wrote...

Yesterday
Thank you, thank you, thank you!
DragonHeart
wrote...

2 hours ago
Correct Slight Smile TY
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1381 People Browsing
 134 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 1038
  
 772
  
 272
Your Opinion
What's your favorite coffee beverage?
Votes: 274
Previous poll results: Who will win the 2024 president election?