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above is the net position of government activities for 2016 NOTE: The Above is needed to complete the following question The following information is available
above is the net position of government activities for 2016
NOTE: The Above is needed to complete the following question
The following information is available concerning the financial activities of the City of New York for fiscal 2016 (in millions):
Net change in fund balances-governmental funds | $ (1,370) |
Depreciation expense on general capital assets | 3,353 |
Revenues of governmental funds that do not provide current financial resources | 11,832 |
Repayments of principal on general long-term debt | 5,676 |
Proceeds from issuance of general long-term debt | 7,382 |
Expenses of governmental funds, other than depreciation, not requiring current financial resources | 585 |
Capital outlays-governmental funds | 5,193 |
Net increase in pension and OPEB liabilities | 15,641 |
The fiscal 2016 change in net positiongovernmental activities is (in millions)
$1,076
$9,134
$(5,630)
$(16,016)
Answer is highlighted in yellow: Solution: $ 28 Answer: Explanation: $ 138 790 48 Total governmental fund balances Capital assets-governmental funds Other long-term assets-governmental funds Less: Bonds payable-governmental funds Accrued pension liabilities-governmental funds Accrued other liabilities-governmental funds Net position of governmental activities $ $ $ $ -690 - 130 -128 28Step by Step Solution
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