Reconciliations to yield government-wide financial statements (landfill closure liability) The City of Charlevoix is preparing its government-wide financial statements from its fund financial statements. The City maintains a landfill for solid waste disposal and estimates that its total capacity is 10 million tons. At the end of the prior year, the City estimated that it had used 3 million tons and reported a liability for closure and post-closure costs of $3 million. During the year, the City estimates that it used an additional 500,000 tons of capacity. Closure and post-closure costs are expected to be $10 million when the Landfill reaches capacity. a. What reconciliation entries must the City include in its government-wide financial statements relating to the Landfill Liability at the beginning of the year and as of the end of the year? Reconciliation Spreadsheet Description Debit Credit To record BOY landfill liability for government-wide financial statement presentation To record landfill liability activity for government-wide financial statement presentation Landfill expense Liability liability Net position Drop Down Menu Options for Entries