Question: From the information below prepare a statement of net position for the City of Southern Springs as of April 30, 2020 assume that outstanding bonds
From the information below prepare a statement of net position for the City of Southern Springs as of April 30, 2020 assume that outstanding bonds were issued to acquire Capital Assets and restricted assets total $836,000. for governmental activities and $335,000 for business type activities (Negative amounts should be indicated by a minus sign).
Cash & Cash Equivalents, governmental activities $570,000.00
Cash & Cash Equivalents, business type activities $1,199.00
Receivables governmental activities $678,000.00
Inventories business type activities $786,000.00
Capital Assets Net Governmental activities $20,400,000.00
Capital Assets Net Business Activities $10,729,000.00
Accounts Payable governmental activities $976,000.00
Accounts Payable Business type activities $844,000.00
General Obligation bonds governmental activities $11,774,000.00
Revenue Bonds business type activities $4,844,000.00
Long-Term liability for compensated absence governmental activities $546,000.00
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