Reference no: EM132637156
Question - Funds and Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balance of Governmental Funds to the Statement of Activities
Prepare the reconciliation of total fund balance to net assets for governmental activities for the following City, given the following information.
All governmental funds´ fund balances $13,000,000
Deferred revenue related to property taxes 2,000,000
Accrued interest on long-term liabilities 1,200,000
General capital assets 10,800,000
Accumulated depreciation on capital assets 4,100,000
General long-term liabilities:
Bonds payable for capital assets 5,700,000
Liability for compensated absences 3,200,000
Internal service fund serving governmental activities
Net assets 3,000,000
Capital assets net of accumulated depreciation 1,700,000
Liability, capital related 500,000