Reporting reconciliation between fund and government wide financial statements Sai Tu Village reported outstanding long term bonds payable of $6,000,000 in the governmental activities column of its government wide statement of net position for the year ended December 31, 2019 During 2020, Sai Tu Village sold $500,000 of new general obligation bonds and repaid $300,000 of bonds outstanding at the beginning of the year Based on this information, determine the reconciliation amounts reported in the two funds financial statements to the two government wide financial statements Use a negative sign with your answer, if appropriate Reconciliation of Governmental fund balance sheet to Government wide statement of net position Amounts reported in the statement of net position are different because Bonds payable are not due and payable in the current period and, therefore, are not reported in the funds $ nd, therefore, are not reported in the funds $ 0x Reconciliation of Governmental fund balance sheet to Government wide statement of net position Amounts reported in the statement of net position are different because Bonds payable are not due and payable in the current period and, therefore, are not reported in the funds $ nd, therefore, are not reported in the funds $ 0x

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Reporting reconciliation between fund and government-wide financial statements Sai-Tu Village reported outstanding long-term bonds payable of $6,000,000 in the governmental activities column of its government-wide

Reporting reconciliation between fund and government-wide financial statements

Sai-Tu Village reported outstanding long-term bonds payable of $6,000,000 in the governmental activities column of its government-wide statement of net position for the year ended December 31, 2019. During 2020, Sai-Tu Village sold $500,000 of new general obligation bonds and repaid $300,000 of bonds outstanding at the beginning of the year.

Based on this information, determine the reconciliation amounts reported in the two funds financial statements to the two government-wide financial statements.

Use a negative sign with your answer, if appropriate.

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Reconciliation of Governmental fund balance sheet to Government-wide statement of net position Amounts reported in the statement of net position are different because: Bonds payable are not due and payable in the current period and, therefore, are not reported in the funds $ nd, therefore, are not reported in the funds $ 0x Reconciliation of Governmental fund balance sheet to Government-wide statement of net position Amounts reported in the statement of net position are different because: Bonds payable are not due and payable in the current period and, therefore, are not reported in the funds $ nd, therefore, are not reported in the funds $ 0x