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Net Position Calculations

derro

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5 years ago

Net Position Calculations

The City of Raymond 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
   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 Raymond for the year ended December 31, 20X9.

Textbook

Governmental and Nonprofit Accounting

Edition: 11^th

Authors: Freeman, Shoulders, McSwain, Scott

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derro Author

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5 years ago

Just got PERFECT on my quiz

jmelchor77

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Good timing, thanks!

2ne1_12345

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Thanks

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