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I think I am a little stuck 1 The following information is available for the preparation of the government-wide financial statements for the City of
I think I am a little stuck
1 The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: 100 points Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities $ 540,000 1, 136,000 642,800 1,893, eae 744,00 19,311,000 10,156, eee 925, eee 799,000 11,147,800 4,586,000 516,000 From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $791.000 for governmental activities and $305.000 for business-type activities. (Negative amounts should be Indicated by a minus sign) CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Business-Type Activities Activities Total S S Assets: Cash and Cash Equivalents Receivables Inventories 540,000 $ 842,000 VIDEO 1,136.000 1,893,000 744,000 10.158,000 13,929,000 27,858,000 1,676,000 2.535.000 744,000 29,467,000 34,422,000 68,844,000 19,311,000 20,493,000 40,986,000 Total Assets 799,000 Liabilities: Accounts Payable Compensated Absences Payable Bonds Payable 925,000 516,000 11,147,000 1.724,000 516,000 15,733,000 0 4,586,000 12,588,000 5,385,000 17,973,000 Total Liabilities Net Position: Net Investment in Capital Assets Restricted Unrestricted 0 0 0 Total Net Position S 0 S 0 $ 0Step by Step Solution
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