Please help me with the adjustments to Problem 9 12 Cherokee Library District statement of net position and statement of activities I completed the journal entries I just need the adjustments for Required 2 and 3 Excel Based Problems 912 The fund basis financial statements of Cherokee Library District (a special purpose government engaged only in governmental activities) have been completed for the year 2017 and appear in the second and third tabs of the page 280Excel spreadsheet provided with this exercise The following information is also available Capital Assets Capital assets purchased in previous years through governmental type funds totaled $19,700,000 and had accumulated depreciation of $5,770,000 Depreciation on capital assets used in governmental type activities amounted to $426,000 for 2017 No capital assets were sold or disposed of in 2017, and all purchases are properly reflected in the fund basis statements as capital expenditures Long Term Debt There were $11,000,000 of outstanding long term notes associated with governmental type funds as of January 1, 2017 Interest is paid monthly December 31, 2017, notes with a face value of $6,370,000 were issued at par In addition, principal payments totaled $1,340,000 The notes, and any retained percentage on construction contracts, are associated with the purchase of capital assets Deferred Inflows Deferred inflows are comprised solely of property taxes expected to be collected more than 60 days after year end The balance of deferred taxes at the end of 2016 was $95,200 Transfers Transfers were between governmental type funds Beginning net position for the government wide statements totaled $20,107,321 as of January 1, 2017 This amount has already been entered in the Statement of Activities Required Use the Excel template provided to complete the following requirements a separate tab is provided for each requirement Prepare the journal entries necessary to convert the governmental fund financial statements to the accrual basis of accounting Post the journal entries to the (shaded) Adjustments column to produce a Statement of Activities You do not have to post amounts debited or credited to (beginning) net position These have been reflected in item e above Post the journal entries to the (shaded) Adjustments column to produce a Statement of Net Position Calculate the appropriate amounts for the Net Position accounts, assuming there are no restricted net position

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Please help me with the adjustments to Problem 9-12 Cherokee Library District statement of net position and statement of activities. I completed the journal entries.

Please help me with the adjustments to Problem 9-12 Cherokee Library District statement of net position and statement of activities. I completed the journal entries. I just need the adjustments for Required #2 and #3.

Excel-Based Problems

912. The fund-basis financial statements of Cherokee Library District (a special-purpose government engaged only in governmental activities) have been completed for the year 2017 and appear in the second and third tabs of the page 280Excel spreadsheet provided with this exercise. The following information is also available:

Capital Assets
- Capital assets purchased in previous years through governmental-type funds totaled $19,700,000 and had accumulated depreciation of $5,770,000.
- Depreciation on capital assets used in governmental-type activities amounted to $426,000 for 2017.
- No capital assets were sold or disposed of in 2017, and all purchases are properly reflected in the fund-basis statements as capital expenditures.
Long-Term Debt
- There were $11,000,000 of outstanding long-term notes associated with governmental-type funds as of January 1, 2017. Interest is paid monthly.
- December 31, 2017, notes with a face value of $6,370,000 were issued at par. In addition, principal payments totaled $1,340,000.
- The notes, and any retained percentage on construction contracts, are associated with the purchase of capital assets.
Deferred Inflows
- Deferred inflows are comprised solely of property taxes expected to be collected more than 60 days after year-end. The balance of deferred taxes at the end of 2016 was $95,200.
Transfers: Transfers were between governmental-type funds.
Beginning net position for the government-wide statements totaled $20,107,321 as of January 1, 2017. This amount has already been entered in the Statement of Activities.

Required:

Use the Excel template provided to complete the following requirements; a separate tab is provided for each requirement.

Prepare the journal entries necessary to convert the governmental fund financial statements to the accrual basis of accounting.
Post the journal entries to the (shaded) Adjustments column to produce a Statement of Activities. You do not have to post amounts debited or credited to (beginning) net position. These have been reflected in item e above.
Post the journal entries to the (shaded) Adjustments column to produce a Statement of Net Position. Calculate the appropriate amounts for the Net Position accounts, assuming there are no restricted net position.