Change in Net Position of Governmental Activities . You have been provided with the following information concerning
Question:
Change in Net Position of Governmental Activities . You have been provided with the following information concerning operating activity for Annette County. For the year ended June 30,2017, the net change in total governmental fund balances was $(289,200), and the change in net position of governmental activities was $194,300. During the year, Annette issued $2,000,000 in general obligation bonds at a premium of101. The bonds are to be used for a construction project. The county acquired$2,750,000 in capital assets and sold capital assets with a book value of$563,000 for $570,900. At the beginning of the period accrued liabilities were$470,000 and at the end of the period they totaled $494,000. Depreciation on capital assets totaled $595,000. Revenue accrued for the period but not available for use totaled $364,000.
Using the information provided, prepare a reconciliation of the change in governmental fund balance to the change in net position of governmental activities.
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely