Prepare a statement of net position for the city of abc

Reference no: EM131808070

The following information is available for the preparation of the government-wide financial statements of the City of ABC as of June 30, 2016:

Accounts payable, business-type activities $ 210,000

Accounts payable, governmental activities 400,000

Capital assets, net, business-type activities 10,400,000

Capital assets, net, governmental activities 12,900,000

Cash and cash equivalents, business-type activities 900,000

Cash and cash equivalents, governmental activities 1,600,000

Inventories, business-type activities 600,000

Net assets, restricted for debt service, business-type activities 400,000

Net assets, restricted for debt service, governmental activities 650,000

Non-current liabilities, business-type activities 3,700,000

Non-current liabilities, governmental activities 5,640,000

Receivables, business-type activities 1,330,000

Receivables, governmental activities 500,000

Assume all long-term liabilities were incurred in the acquisition of capital assets. From the information given above, prepare, in good form, a Statement of Net Position for the City of ABC as of June 30, 2016.

Include the unrestricted net assets, which is to be computed from the information presented above. Include a total column. ABC has no component units.

Reference no: EM131808070

Questions Cloud

Identify the various management positions or titles on chart : Identify the various management positions or titles on the chart and indicate the positions/jobs that would report to each.

Prepare a journal entry to record disposal of the equipment : Prepare a journal entry to record depreciation for 2010 up to date of disposal of the equipment, and prepare a journal entry to record disposal of equipment

Calculate the daily sales during the discount sales period : The demand functions (a) and (b) are given as 79.5 and 1.1 respectively. Calculate the daily sales during the discount sales period.

How much does she get to keep after paying off the loan : A year after buying her car, Anita has been offered a job in Europe. Her car loan is for $15,000 at a 9% nominal interest rate for 60 months.

Prepare a statement of net position for the city of abc : From the information given below prepare, in good form, a Statement of Net Position for the City of ABC as of June 30, 2016.

Compute the amount of dividends that must have been paid : Compute the amount of dividends that must have been paid to preferred stockholders and common stockholders in each year

How your organizations culture fits or doesnt fit with you : How your organization's culture fits or doesn't fit with you? What (if anything) can you do to make your interaction with the culture more effective?

Determine sparrow taxable income : Based on the above information, use schedule M-1 of Form 1120, which is available on the IRS website, to determine Sparrow's taxable income for 2011

Establish an equation for marginal revenue : a) Establish an equation for Marginal Revenue (MR), Marginal Cost (MC), Total Profit (p) and Marginal Profit (Mp).

User Account

All Pages