Reference no: EM131784578

Question: The following information is available about items that differ between the governmental funds and the government wide statements. Assume that there are no internal service funds. The schedule of capital assets prepared for the year ended December 31, 2015, includes the following items:

Government                                         Beginning                                                                      Ending
Activities                                              Balance             Additions             Retirements                 Balance

Total Capital Assets (at gross)                $700,000            $50,000                 $(25,000)                $725,000

Less: Accumulated

Depreciation                                       (170,000)            (30,000)                  17,500                 (182,500)

Net Capital Assets                               $530,000            $20,000 $                 (7,500)                 $542,500

The bond was issued at the beginning of the year, and the following amortization schedule is available.

Date                Interest Paid                Cash Paid                  Premium                    Bond
                                                                                   Amortization                Balance

1/1/2015                                                                                                      $104,213

12/31/2015           6,253                      7,000                        747                      $103,466

The net change in fund balances-total governmental funds was $1,100,000.

Required: Prepare the reconciliation of the statement of revenues, expenditures, and changes in fund balances to the statement of activities on a government-wide basis for the year ended December 31, 2015.