During 2017, the City of Coyote's General Fund received $10,000, which was recorded as a general revenue

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During 2017, the City of Coyote's General Fund received $10,000, which was recorded as a general revenue when it was actually a program revenue earned by its park program.

a. What was the correct overall change for 2017 in the net position reported on the government wide financial statements?

b. In the general information above, the parks reported net expenses for the period of $100,000.

What was the correct amount of net expenses reported by the parks?

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Advanced Accounting

ISBN: 978-1259444951

13th edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupni

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Question Posted: Mar 17, 2017 11:05 AM

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During 2017, the City of Coyote's General Fund received $10,000, which was recorded as a general revenue

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A The correct change in the net position on the governmentwide statements ...View the full answer

Advanced Accounting

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