The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets...

 

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The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets (gross) Less: Accumulated Depreciation Net Capital Assets Beginning Balance Additions Retirements $503,000 (197,000) $306,000 98,000 (32,000) 66,000 Ending Balance (73,000) $528,000 27,000 (202.000) (46,000) $326,000 All capital acquisitions were made in a capital projects fund (and paid for with cash). An asset was sold by the general fund for $70,000 cash. Determine how the above information will be reflected on each of the following statements for the year 2025. 1. The governmental funds' statement of revenue, expenditures, and changes in fund balances. List the governmental fund and then list the dollar amount within the appropriate heading on the statement (such as Revenues, Expenditures, or Other Financing Sources (Uses)). 2. The government-wide statement of net position. Net Capital Position Government-wide Statement of Net Position December 31, 2025 3. The government-wide statement of activities. $ Government-wide Statement of Activities For the Year Ended December 31, 2025 $ The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets (gross) Less: Accumulated Depreciation Net Capital Assets Beginning Balance Additions Retirements $503,000 (197,000) $306,000 98,000 (32,000) 66,000 Ending Balance (73,000) $528,000 27,000 (202.000) (46,000) $326,000 All capital acquisitions were made in a capital projects fund (and paid for with cash). An asset was sold by the general fund for $70,000 cash. Determine how the above information will be reflected on each of the following statements for the year 2025. 1. The governmental funds' statement of revenue, expenditures, and changes in fund balances. List the governmental fund and then list the dollar amount within the appropriate heading on the statement (such as Revenues, Expenditures, or Other Financing Sources (Uses)). 2. The government-wide statement of net position. Net Capital Position Government-wide Statement of Net Position December 31, 2025 3. The government-wide statement of activities. $ Government-wide Statement of Activities For the Year Ended December 31, 2025 $

Answer rating: 100% (QA)

Here are the detailed workings 1 Governmental funds statement of revenue expenditur... View the full answer