Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For the city of Austin, TX ACFR 2 0 2 2 please help I ' m really struggling with this. 1 . Total long -

For the city of Austin, TX ACFR 2022 please help I'm really struggling with this.
1. Total long-term obligations for both governmental and business-type activities: ___________________________________________________________________________
Does this amount reconcile with the long-term liabilities as reported on the government-wide statements of net position? Yes or No: _____________________________________
2. Other than bonds payable, what other kinds of long-term debt does the town report in its statement of net position? _____________________________________________________
3. Increase or decrease long-term borrowing during the current year? ____________________
Effect on total long-term liabilities at year-end? Explain. ____________________________
___________________________________________________________________________
4. Percentage total net bonded debt to assessed value of property? ______________________
Amount of net debt per capital? ________________________________________________
5. Towns legal debt margin? _____________________________________________________
6. Lease obligations outstanding? Yes or No: _______________________________________
Accounted for as operating or financing leases? ___________________________________
Were any of the leases initiated during current year? Yes or No: _______________________
Amount of payments related to financing leases? __________________________________
7. Compute the total amount of the citys direct and overlapping debt? 220218 bonds issued
8. Outstanding conduit debt? Yes or No: ___no__________

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions