Business
Business, 06.05.2021 18:50, sierram298

For Year 1, Crescent City displayed an increase in proprietary fund net position of $380,000 and excess of revenues and other financing sources over expenditures and other financing uses for all governmental funds of $450,000. The government also maintained an internal service fund whose purpose was to provide maintenance services to general government buildings. The internal service fund had an increase in net position of $15,000. During the year, the governmental funds had the following: Capital outlays$500,000
Proceeds from long-term debt (LTD) issue350,000
Principal payments on LTD45,000
Interest expenditures on LTD14,000
Depreciation expense on governmental assets75,000
Proceeds from the sale of land (net book value $150,000)190,000

Required:
Calculate the increase (decrease) in net position displayed in the government-wide statement of activities for governmental activities.

answer
Answers: 2

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