entral Maine's Lar... Gdifferent aspects of. G GoogleAol-New ACC307WB1 & WB2 My Subscriptions Courses ACC307WB1 & WB2 Week 15-05/06-05/12/ Week 15 Homework-05/11 QUESTION 5 Mark 0.00 out of 7.00 Incorrect PRag question Reporting reconciliation between fund and government-wide financial statements Oliver City reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the governmental activities column of its government-wide statement of net position for the ended December 31, 2018. The total governmental funds column in Oliver's calendar year 2019 statement of revenues, expenditures, and changes in fund balances showed that Oliver's capital outlay expenditures were $340,000. oOliver City's director of finance estimated that total depreciation for 2019 was $200,000. year this information, determine the reconciliation amounts reported in the two funds financial statements to the two government-wide financial statements. Use a negative sign with your answer, if appropriate. Recenciliation of Funds Balance Sheet to Goverment-Wide Statement of Net Position Amounts reported in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and, therefore are not reported in the funds. Reconciliation of Governmental funds state ment of revenues, expenditures, and changes in fund balances to Government-Wide statement of activities Amounts reported in the funds statement are different because: Governmental funds report capital assers as expendiures. In the stacement of activides, the costs of capital assets are allocaced over their useful lives es depreciasion. The amouns by which capital oudays in the current period exceeded depreciation expense is Check entral Maine's Lar... Gdifferent aspects of. G GoogleAol-New ACC307WB1 & WB2 My Subscriptions Courses ACC307WB1 & WB2 Week 15-05/06-05/12/ Week 15 Homework-05/11 QUESTION 5 Mark 0.00 out of 7.00 Incorrect PRag question Reporting reconciliation between fund and government-wide financial statements Oliver City reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the governmental activities column of its government-wide statement of net position for the ended December 31, 2018. The total governmental funds column in Oliver's calendar year 2019 statement of revenues, expenditures, and changes in fund balances showed that Oliver's capital outlay expenditures were $340,000. oOliver City's director of finance estimated that total depreciation for 2019 was $200,000. year this information, determine the reconciliation amounts reported in the two funds financial statements to the two government-wide financial statements. Use a negative sign with your answer, if appropriate. Recenciliation of Funds Balance Sheet to Goverment-Wide Statement of Net Position Amounts reported in the statement of net position are different because: Capital assets used in governmental activities are not financial resources and, therefore are not reported in the funds. Reconciliation of Governmental funds state ment of revenues, expenditures, and changes in fund balances to Government-Wide statement of activities Amounts reported in the funds statement are different because: Governmental funds report capital assers as expendiures. In the stacement of activides, the costs of capital assets are allocaced over their useful lives es depreciasion. The amouns by which capital oudays in the current period exceeded depreciation expense is Check