Question

The data in the accompanying table were extracted from a city's fund statements (in millions).
1. Prepare in summary form a government-wide statement of activities and a statement of net position. Although you need not prepare the statement in the format pre scribed by the GASB, be sure to have separate columns for governmental and business-type activities and for ''totals.''
2. GASB Statement No. 34 states that ''the effect of inter fund services provided and used between functions-for example, the sale of water or electricity from a utility to the general government-should not be eliminated in the statement of activities. ''What would be the rationale for such aposition?


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  • CreatedAugust 13, 2014
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