Capital Asset Disclosures. Lynn County has prepared the followin

Capital Asset Disclosures. Lynn County has prepared the following schedule related to its capital asset activity for the fiscal year 2011. Lynn County has governmental activities only, with no business-type activities.


LYNN COUNTY Capital Asset Disclosures For the Year Ended December 31, 2011 Change December 31 January 1 Total capital as


Required
a. Does the above capital asset footnote disclosure comply with the GASB requirements? Explain.
b. Does the county use the modified approach to account for infrastructure assets? Explain.
c. What percentage of the useful life of the depreciable assetsremains?

Members

  • Access to 1 Million+ Textbook solutions
  • Ask any question from 24/7 available
    Tutors
$9.99
VIEW SOLUTION
OR

Non-Members

Get help from Accounting Tutors
Ask questions directly from Qualified Online Accounting Tutors .
Best for online homework instance.