On January 1, 2015, a city signs a capital lease for new equipment for the police department. How does the city report this transaction on government-wide financial statements? On fund financial statements?
Answer to relevant QuestionsOn December 31, 2015, the city in question (2) makes its first annual lease payment. How does the city report the payment on government-wide financial statements? On fund financial statements?What are the two fund financial statements for governmental funds? What information does each normally present?On January 1, 2015, a city entered into the following leases for equipment items. Each of the leases qualifies as a capital lease. Initial payments are on December 31, 2015. An interest rate of 12 percent is viewed as ...The City of Pfeiffer starts the year of 2015 with the general fund and an enterprise fund. The general fund has two activities: education and parks/recreation. For convenience, assume that the general fund holds $123,000 ...How are intra-entity transfers reported in an investee’s separate financial statement if the investor is using the equity method?
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