Exercise 9-2 (Algo)

Presented below is the Governmental Funds Balance Sheet for the Warrenton Library District, a special-purpose entity engaged in a single governmental activity.

WARRENTON LIBRARY DISTRICT
Governmental Funds Balance Sheet
As of December 31, 2020
	General Fund					Special Revenue Fund					Total
Assets
Cash and cash equivalents		$	135,000				$	10,800			$	145,800
Inventories			5,400									5,400
Receivables (net)
Taxes receivable			99,800									99,800
Due from general fund								8,000				8,000
Total assets		$	240,200				$	18,800			$	259,000
Liabilities
Accounts payable			101,800					4,100				105,900
Due to special revenue fund			8,000									8,000
Total liabilities			109,800					4,100				113,900
Fund balance
Nonspendable (inventories)			5,400									5,400
Restricted for other purposes								14,700				14,700
Unassigned			125,000									125,000
Total fund balance			130,400					14,700				145,100
Total liabilities and fund balance		$	240,200				$	18,800			$	259,000

Additional information:

1. Capital assets (net of accumulated depreciation) amounted to $334,800 at year-end.
2. The liability for long-term compensated absences is estimated to be $85,000 at year-end.
3. Long-term notes payable amounted to $213,100 at year-end.

Prepare a combined Governmental Funds Balance Sheet/Statement of Net Position. (Amounts to be deducted should be indicated by a minus sign.)

WARRENTON LIBRARY DISTRICT
Governmental Funds Balance Sheet/Statement of Net Position
As of December 31, 2020
	General Fund	Special Revenue Fund	Total	Adjustments to Government-wide	Statement of Net Position
Assets
Cash and Cash Equivalents	$135,000	$10,800	$145,800
Inventories	5,400		5,400
Receivables (Net)
Taxes Receivable	99,800		99,800
Due from General Fund		8,000	8,000
Capital Assets
Total Assets	$240,200	$18,800	$259,000	$0	$0
Liabilities
Accounts Payable	101,800	4,100	105,900
Due to Special Revenue Fund	8,000		8,000
Long-Term Compensated Absences
Notes Due in More than One Year
Total Liabilities	109,800	4,100	113,900	0	0
Fund Balance
Nonspendable (inventories)	5,400		5,400
Restricted for Other Purposes		14,700	14,700
Unassigned	125,000		125,000
Total Fund Balance	130,400	14,700	145,100
Total Liabilities and Fund Balance	$240,200	$18,800	$259,000
Net Position
Net Investment in Capital Assets
Unrestricted
Total Net Position					$0