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Preparation of governmental funds balance sheet Teds Village has five governmental funds: a General Fund; a Debt Service Fund, and three Special Revenue Funds. It
Preparation of governmental funds balance sheet Teds Village has five governmental funds: a General Fund; a Debt Service Fund, and three Special Revenue Funds. It has no proprietary funds: The following information is avallable at December 31,2022 for each of the funds, a) Identify which of the funds are major funds as defined in GASB 5 tatement No. 34 , amended by GASB Statement No. 37 . b) Prepare a balance sheet for Teds Village as of December 31, 2022 . Show the major funds in separate columns and group the nonmajor funds in a single column. Enter assets, liabilities, and fund balances in order of magnitude (largest to smallest)
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