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What reconciliation entries include in financial statements

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Question - Reconciliations to yield government-wide financial statements (bond liability) - The Village of Viola is preparing its government-wide financial statements from its fund financial statements.

The Village records an outstanding Bond Liability with a book value of $5,000 (all numbers in $1,000s) at the beginning of the year that requires a principal payment of $250 per year. Its records also indicate that it borrowed $1,000 on new Bonds during the year. What two reconciliation entries must the Village include in its government-wide financial statements relating to its Bond Liability?

Reference no: EM133145010

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