Reconciliations required to yield government-wide financial statements from fund financial statements and preparation of financial statements The City of Rowan is preparing its government-wide financial statements for the year. Its accountant must prepare a number of journal entries to recognize assets and liabilities previously omitted from the fund financial statements and to recognize revenues and expenses for the year under accrual accounting that were not recognized under the current financial resources measurement focus and the modified accrual basis of accounting used to prepare the Statement of Revenues, Expenditures, and Changes in Fund Balances for its funds.

a. Prepare the journal entries for the required reconciliations to recognize the following in the government-wide financial statements (all amounts in $1,000s):

1. Recognize Capital Assets of $210,630 as of the beginning of the year.

2. Record Depreciation Expense of $8,699 for the year and reverse Expenditures of $11,962 for Capital Outlays during the year.

3. Recognize $9,000 of Bonds Payable as of the beginning of the year.

4. Reverse Other Financing Sources of $2,000 and Expenditures Debt Payments of $700 relating to increases and decreases in the bond liability during the year.

5. Reverse Deferred Revenue of $27,300 as of the beginning of the year.

6. Reverse $1,365 of Deferred Revenue recognized during the year.

7. Recognize Compensated Absences of $3,988 as of the beginning of the year and an increase in that liability of $199 during the year.

8. Recognize $20 of Accrued Interest Payable as of the beginning of the year and an increase in that liability of $33 during the year.

9. Recognize a liability of $5,482 relating to the Citys landfill as of the beginning of the year. The estimate for this liability did not change during the year.

b. The City of Rowan reports the following summary fund financial statements for its General Fund:

Balance Sheet	General Fund
Current:
Cash	$32,400
Receivables:
Real estate and personal property	2,520
Intergovernmental	26,060
Total assets	$60,980
Payables	$2,982
Deferred revenues	28,665
Total liabilities	31,647
Fund balanceunassigned	29,333
	$60,980
Statement of revenues, expenditures, and changes in fund balances:
Total revenuesfund financial statements	$111,384
Total expenditures	107,912
Other financing sources and uses:
Proceeds from bonds	2,000
Net change in fund balances	$5,472

Given these fund financial statements and the reconciliations in Part a, prepare the government-wide Statement of Net Position and identify the Revenues, Expenses and Change in Net Position that should be reported in the Statement of Activities for the year.

HINT: Use a negative sign with your answers in the adjusted "Governmental Activities" column to indicate any reductions.

I don't need the journal entries I only need help on the government-wide Statement of Net Position. Anything with a red X

Gov't Activities Elimination Entries Dr Cr Governmental Activities $32,400 $ 32400 Statement of Net Position Assets Current Cash Receivables: Real estate and personal property Intergovernmental Noncurrent: Receivables: Capital assets, net of accumulated depreciation 2520 2,520 26,060 26060 a. 1. 210630 X 210630 3263 a.2. Total assets $60,980 $ 271610 X Liabilities $2,982 $ 2982 Current- Payables Accrued interest Bond and notes payable > > 53 a. 8. 53 9000 a.3. -9000 x 1300 a.4. > 4187 a.7. 4187 Compensated absences Landfill closure and post-closure care costs Deferred revenues 5482 a.9 5482 28,665 a.s. 27300 0 a.6. 1365 31,647 0 X Total liabilities Net position: Fund balance Adjustments: 29,333 a.3. a.7. a.8. 9000 3988 210630 a.1. 27300 a.5. 29333 201630 23312 20 X 20 a.9 5482 5482 X below 0 X Net income adjustments Net position Check: Liabilities + Net position = Total assets 0 x 0 x $ Gov't Activities -111384 x Elimination Entries Dr Cr Governmental Activities $ 111384 $ 1365 a.6. 1365 0 x 107912 107912 Statement of Revenues, Expenditures, and Changes in Fund Balances Total revenues --fund financial statements Adjustments: Deferred revenues Total revenues --statement of activities Total expenditures --fund statements Adjustments: Debt principal payments Depreciation expense/capital outlay Compensated absences Interest expense Total expenses --statement of activities Miscellaneous adjustments: OFS --Proceeds from bonds Net change in fund balances/Change in Net Position 700 a.4. -700 a.2. 8699 0X a.2. OX 199 a. 7. 199 a.8. 33 33 0 x 2000 a.4. 2000 0 $ 5472 271979 X 0 x $ OX Gov't Activities Elimination Entries Dr Cr Governmental Activities $32,400 $ 32400 Statement of Net Position Assets Current Cash Receivables: Real estate and personal property Intergovernmental Noncurrent: Receivables: Capital assets, net of accumulated depreciation 2520 2,520 26,060 26060 a. 1. 210630 X 210630 3263 a.2. Total assets $60,980 $ 271610 X Liabilities $2,982 $ 2982 Current- Payables Accrued interest Bond and notes payable > > 53 a. 8. 53 9000 a.3. -9000 x 1300 a.4. > 4187 a.7. 4187 Compensated absences Landfill closure and post-closure care costs Deferred revenues 5482 a.9 5482 28,665 a.s. 27300 0 a.6. 1365 31,647 0 X Total liabilities Net position: Fund balance Adjustments: 29,333 a.3. a.7. a.8. 9000 3988 210630 a.1. 27300 a.5. 29333 201630 23312 20 X 20 a.9 5482 5482 X below 0 X Net income adjustments Net position Check: Liabilities + Net position = Total assets 0 x 0 x $ Gov't Activities -111384 x Elimination Entries Dr Cr Governmental Activities $ 111384 $ 1365 a.6. 1365 0 x 107912 107912 Statement of Revenues, Expenditures, and Changes in Fund Balances Total revenues --fund financial statements Adjustments: Deferred revenues Total revenues --statement of activities Total expenditures --fund statements Adjustments: Debt principal payments Depreciation expense/capital outlay Compensated absences Interest expense Total expenses --statement of activities Miscellaneous adjustments: OFS --Proceeds from bonds Net change in fund balances/Change in Net Position 700 a.4. -700 a.2. 8699 0X a.2. OX 199 a. 7. 199 a.8. 33 33 0 x 2000 a.4. 2000 0 $ 5472 271979 X 0 x $ OX