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Selected governmental fund data from the City of Miller s Cove is presented below ( all amounts are in thousands of dollars ) : Expenditures
Selected governmental fund data from the City of Millers Cove is presented below all amounts are in thousands of dollars:
Expenditures Capital Outlay..................................................................... $
Expenditure Debt Service Principal............................................................
Expenditure Debt Service Interest..............................................................
Other financing sources proceeds from sale of land....................................
Other financing sources bonds principal..................................................
Other financing sources premium on bonds................................................
Transfers from the General Fund....................................................................
Transfer to the Debt Service Fund..................................................................
Transfer to the Enterprise Fund.....................................................................
Revenue Property Taxes..........................................................................
Increase in compensated absences reported as general longterm liabilities.....
Additional information:
Land sold had a book value of $
Deferred property taxes were $ at the beginning of the year. Deferred property taxes at the end of the year were $
All of the compensated absence liabilities relate to the education function.
a Requirement: Prepare the CAPITAL ASSET RELATED worksheet adjustments that would be needed to convert the following governmental fund data to governmental activities data for the governmentwide statements.
b Requirement: Prepare the LONGTERM LIABILITY RELATED worksheet adjustments that would be needed to convert the following governmental fund data to governmental activities data for the governmentwide statements.
cRequirement: Prepare the REVENUE worksheet adjustments that would be needed to convert the following governmental fund data to governmental activities data for the governmentwide statements.
d Requirement: Prepare the EXPENSE worksheet adjustments that would be needed to convert the following governmental fund data to governmental activities data for the governmentwide statements.
e Requirement: Prepare the INTERFUND ELIMINATIONS worksheet adjustments that would be needed to convert the following governmental fund data to governmental activities data for the governmentwide statements.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
a CAPITAL ASSET RELATED worksheet adjustments Since land was sold for 120000 with a book value of 25...Get Instant Access to Expert-Tailored Solutions
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Step: 2
Step: 3
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