Minor County had the below information for their print shop fund.

1. Balance sheet accounts include: Cash, $280,000; Inventories, $350,000; Capital Assets, $1,265,000; Accumulated Depreciation, $545,000; Accounts Payable, $250,000; and Bonds Payable, $400,000.
2. The only transaction in the internal service fund that is external to the government was a sale for printed signs in the amount of $11,500.
3. Exclusive of the interest expense, the internal service fund reported operating income of $122,000. An examination of the records indicates that services were provided as follows: one half to general government, one fourth to public safety, one fourth to culture and recreation.

Required: Prepare necessary adjustments to incorporate the internal service fund in the government-wide statements.

Answer rating: 100% (QA)

To incorporate the internal service fund in the governmentwide statements we need to make the necess... View the full answer