On January 1, 2015, a city signs a capital lease for new equipment for the police department.

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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?

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Fundamentals of Advanced Accounting

ISBN: 978-0077862237

6th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

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Question Posted: Jan 08, 2015 08:17 AM

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On January 1, 2015, a city signs a capital lease for new equipment for the police department.

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Within governmentwide financial statements the accounting for capitalized leases is the same as forp...View the full answer

Fundamentals of Advanced Accounting

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