Reconcile Fund Statements to Statement of Activities The following information i
ID: 2572039 • Letter: R
Question
Reconcile Fund Statements to Statement of Activities
The following information is taken from the financial records of Bretton City for the year 2017:
Prepare a reconciliation of the change in total fund balances - governmental funds, as reported on the governmental funds operating statement, to the change in net position - governmental activities, as reported on the government-wide statement of activities.
Use negative signs with answers that reduce the change in net position.
Change in total fund balances-governmental funds $90,000 Change in net position-enterprise funds 50,000 Change in net position-internal service funds 4,000 Change in net position-fiduciary funds 25,000 Total capital assets, net of depreciation-governmental funds 1,065,000 Total capital assets, net of depreciation-enterprise funds 500,000 Total capital assets, net of depreciation-internal service funds 175,000 Capital outlays-governmental funds 85,000 Capital outlays-enterprise funds 30,000 Capital outlays-internal service funds 26,000 Depreciation expense on general capital assets 45,000 Book value of general capital assets sold 110,000 Proceeds on sale of general capital assets 35,000 Revenues of governmental funds not providing current financial resources 21,000 Revenues of enterprise funds not providing current financial resources 6,000 Revenues of internal service funds not providing current financial resources 3,000 Expenses of governmental funds not requiring current financial resources, other than depreciation 15,000 General long-term debt balance 260,000 Proceeds from issuance of general long-term debt 73,000 Repayments of general long-term debt 116,000Explanation / Answer
Change in total Fund Balance - government Funds $ 90000 Excess of general capital outlays over depreciation expense $ 141000 Book value of general capital assets sold $1605000 General revenues not providing current resources $21000 Repayments in excess of proceeds from general long-term debt $71000 General Expenses not requiring current resources $ 6000 Change in net position- internal service funds $ 7000 change in net position-govermental activities $50000
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.