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Following is the governmental activities pre-closing trial balance for the Town of Freaz. Freaz is a relatively small town and. as a result, it has
Following is the governmental activities pre-closing trial balance for the Town of Freaz. Freaz is a relatively small town and. as a result, it has only governmental funds (i. e. it uses no proprietary funds). There are no component units. To complete the financial statements for its annual report, the town must prepare a government-wide statement of net position and a statement of activities. The restricted net position for debt service increased $103 for FY 2017. The net position accounts do not reflect FY 2017 depreciation of $1, 330 that was allocated to the functions of government, or the town's decision to designate $980 for street repair. (All 000s omitted.) Required Using the trial balance provided by the town, prepare a government-wide statement of your answers in thousands.) Using the trial balance provided by the town, prepare a government-wide statement of activities. (Enter your answers in thousands. Negative amounts should be indicated by a minus sign.)
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