A city starts a solid waste landfill in 2012. When the landfill was opened the city estimated that it would fill to capacity within 5 years and that the cost to cover the facility would be $1.5 million which will not be paid until the facility is closed. At the end of 2012, the facility was 20% full, and at the end of 2013, the facility was 45% full. If the landfill is judged to be a governmental fund, what liability is reported on the fund financial statements at the end of 2013?

Answer rating: 100% (QA)

At the end of 2012 facility is 20 full so the 300000 would have been recognis... View the full answer