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 $570,000
Cash and cash equivalents, business-type activities 1,199,000
Receivables, governmental activities 678,000
Receivables, business-type activities 1,998,000
Inventories, business-type activities 786,000
Capital assets, net, governmental activities 20,400,000
Capital assets, net, business-type activities 10,729,000
Accounts payable, governmental activities 976,000
Accounts payable, business-type activities 844,000
General obligation bonds, governmental activities 11,774,000
Revenue bonds, business-type activities 4,844,000
Long-term liability for compensated absences, governmental activities 546,000
From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $836,000 for governmental activities and $335,000 for business-type activities.
Answers: 2
Other questions on the subject: Business
Business, 22.06.2019 08:30, adambbogard1589
Match the items with the actions necessary to reconcile the bank statement.(there's not just one answer)1. interest credited in bank account2. fee charged by bank for returned check3. checks issued but not deposited4. deposits yet to be crediteda. add to bank statementb. deduct from bank statementc. add to personal statementd. deduct from personal statement
Answers: 2
Business, 22.06.2019 11:10, macylen3900
Verizon communications, inc., provides the following footnote relating to its leasing activities in its 10-k report. the aggregate minimum rental commitments under noncancelable leases for the periods shown at december 31, 2010, are as follows: years (dollars in millions) capital leases operatingleases 2011 $97 $1,898 2012 74 1,720 2013 70 1,471 2014 54 1,255 2015 42 1,012 thereafter 81 5,277 total minimum 418 $ 12,633 rental commitments less interest and (86) executory costs present value of 332 minimum lease payments less current (75) installments long-term obligation $257 at december 31, 2010 (a) confirm that verizon capitalized its capital leases using a rate of 7.4 %. (b) compute the present value of verizon's operating leases, assuming an 7.4% discount rate and rounding the remaining lease term to 3 decimal places. (use a financial calculator or excel to compute. do not round until your final answers. round each answer to the nearest whole number.)
Answers: 2
Business, 22.06.2019 17:10, mikailah0988
At the end of the current year, accounts receivable has a balance of $550,000; allowance for doubtful accounts has a credit balance of $5,500; and sales for the year total $2,500,000. an analysis of receivables estimates uncollectible receivables as $25,000. determine the net realizable value of accounts receivable after adjustment. (hint: determine the amount of the adjusting entry for bad debt expense and the adjusted balance of allowance of doubtful accounts.)
Answers: 3
Do you know the correct answer?
The following information is available for the preparation of the government-wide financial statemen...
Questions in other subjects:
Mathematics, 29.06.2021 21:10
English, 29.06.2021 21:10
