Presented below is the Governmental Funds Balance Sheet for the Warrenton Library District, a special-purpose entity engaged
Question:
Presented below is the Governmental Funds Balance Sheet for the Warrenton Library District, a special-purpose entity engaged in a single governmental activity. Prepare a combined Governmental Funds Balance Sheet/Statement of Net Position in the format presented in Illustration 9-1.
Additional information:
a. Capital assets (net of accumulated depreciation) amounted to $335,000 at year-end.
b. The liability for long-term compensated absences is estimated to be $85,000 at year-end.
c. Long-term notes payable amounted to $222,000 at year-end.
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Related Book For
Essentials Of Accounting For Governmental And Not-for-Profit Organizations
ISBN: 9781260570175
14th Edition
Authors: Paul Copley
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