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Current Attempt in Progress The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets (gross) Less: Accumulated Depreciation Net
Current Attempt in Progress The following schedule of capital assets was prepared for Capital City. Government Activities Total Capital Assets (gross) Less: Accumulated Depreciation Net Capital Assets Beginning Balance Additions $492,000 100,000 (197,000) (27,000) $295,000 73,000 Retirements Ending Balance (76,000) $516,000 27,000 (197,000) $319,000 (49,000) All capital acquisitions were made in a capital projects fund (and paid for with cash). An asset was sold by the general fund for $70,000 cash. Determine how the above information will be reflected on each of the following statements for the year 2025. 1. The governmental funds' statement of revenue, expenditures, and changes in fund balances. List the governmental fund and then list the dollar amount within the appropriate heading on the statement (such as Revenues, Expenditures, or Other Financing Sources (Uses)).Revenues Revenue from Asset Sale Expenditures Capital Assets Other Financing Sources (Uses) Revenue from Asset Sale Special Items Fund Balance Governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balance For the year ended December 31, 2025 General Fund 70000 70000 -6000 Capital Projects Fund 76000 Debt Service Fund Total Governmental Funds 70000 76000 70000 -60002. The government-wide statement of net position. Capital Assets Due from General Fund Net Capital Position 3. The government-wide statement of activities. Revenues Government-wide Statement of Net Position December 31, 2025 Unrestricted Net Position List of Accounts tA tA Government-wide Statement of Activities For the Year Ended December 31, 2025 tA 319000 70000 389000 70000 70000
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