Dare County, NC reports the following information about its compensated absence liabilities for fiscal 2010: Assume that
Question:
Assume that liability reductions were cash payments to employees, andthat internal service fund compensated absences included in governmental activities are as follows:
(in thousands)Internal Service Fund
July 1, 2009, balance............................................................$59
Additions...........................................................................80
Reductions........................................................................ (85)
June 30, 2010, balance............................................................$54
Required
How is the above information reported in the government-wide and fund financial statements?
Step by Step Answer:
Advanced Accounting
ISBN: 978-1934319307
2nd edition
Authors: Susan S. Hamlen, Ronald J. Huefner, James A. Largay III