Reporting Capital Assets in the Government-Wide and Fund Statements

Westfield County reports all capital asset activities used in general government operations in its general fund. The following changes related to capital assets occurred during 2023:

	Beginning	Increases	Decreases	Ending
Capital assets, original cost	$3,200,000	$290,000	$(315,000)	$3,175,000
Accumulated depreciation	(1,300,000)	(250,000)	230,000	(1,320,000)
Capital assets, net	$1,900,000	$40,000	$(85,000)	$1,855,000

Capital assets were acquired for cash, and $100,000 in cash was received from the sale of capital assets during 2023.

Instructions:

Do not use negative signs with any of your answers below.

If the information is not reported on a financial statement, select Not applicable as the account and leave the amount blank (zero).

Required

How will the above information be reported on each of the following financial statements? Indicate account names and amounts.

a. Government-wide statement of activities for 2023

Account	Amount
Depreciation expense	Answer
AnswerCapital assets, netCapital outlayGain on sale of capital assetsLoss on sale of capital assetsOther financing source: proceeds from sale of capital assetsNot applicable	Answer

b. Government-wide statement of net position at 2023 year-end

Account	Amount
AnswerCapital assets, netCapital outlayGain on sale of capital assetsLoss on sale of capital assetsOther financing source: proceeds from sale of capital assetsNot applicable	Answer

c. Governmental funds statement of revenues, expenditures, and changes in fund balances for 2023

Account	Amount
Expenditures: capital outlay	Answer
AnswerCapital assets, netCapital outlayGain on sale of capital assetsLoss on sale of capital assetsOther financing source: proceeds from sale of capital assetsNot applicable	Answer

d. Governmental funds balance sheet at 2023 year-end

Account	Amount
AnswerCapital assets, netCapital outlayGain on sale of capital assetsLoss on sale of capital assetsOther financing source: proceeds from sale of capital assetsNot applicable	Answer