Prepare the transaction analyses for given parts

Assignment Help Accounting Basics

Reference no: EM132213350

Question: Prepare the transaction analyses for parts A and B using the following Legend

FA Financial Analysis

FB Fund Balance

GCA General Capital Assets

GLTL Geneal Long Term Liabilities

NP Net Position

RL Related Liabilities

(A) Proprietary fund loss on sale of the capital asset is $35 (proceeds) less $60 (carrying value) or $25.

(B) Governmental nonfund: GCA decreases by $60 at the end of useful life when the computer is sold. In other words, in transaction (i), when the computer was purchased, GCA increases by $900. In transaction (j), GCA decreases by $280 (depreciation) each year during the 3-year period. In transaction (k), when the computer is sold, GCA decreases by its carrying value (book value or residual value) at disposal, $60. So, GCA decreases by $900 in total after the computer is sold.

Reference no: EM132213350

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