Required: From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $598,000 for governmental activities and $205,000 for business-type activities. (Negative amounts should be indicated by a minus sign.) CITY OF SOUTHERN SPRINGS Statement of Net Position April 30, 2017 Governmental Activities Business-Type Activities Total Assets: $ 0 0 0 0 Total Assets Liabilities: 0 0 0 0 0 0 0 Total Liabilities Net Position: 0 0 nl The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities 410,000 863,000 486,000 1,436,000 562,000 14,590,000 7,673,000 702,000 604,000 8,428,000 3,468,000 388,000 Required: From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $598,000 for governmental activities and $205,000 for business-type activities. (Negative amounts should be indicated by a minus sign.) CITY OF SOUTHERN SPRINGS Statement of Net Position April 30, 2017 Governmental Activities Business-Type Activities Total Assets 0 0 0 0 Required: From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $598,000 for governmental activities and $205,000 for business-type activities. (Negative amounts should be indicated by a minus sign.) CITY OF SOUTHERN SPRINGS Statement of Net Position April 30, 2017 Governmental Activities Business-Type Activities Total Assets: $ 0 0 0 0 Total Assets Liabilities: 0 0 0 0 0 0 0 Total Liabilities Net Position: 0 0 nl The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities General obligation bonds, governmental activities Revenue bonds, business-type activities Long-term liability for compensated absences, governmental activities 410,000 863,000 486,000 1,436,000 562,000 14,590,000 7,673,000 702,000 604,000 8,428,000 3,468,000 388,000 Required: From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $598,000 for governmental activities and $205,000 for business-type activities. (Negative amounts should be indicated by a minus sign.) CITY OF SOUTHERN SPRINGS Statement of Net Position April 30, 2017 Governmental Activities Business-Type Activities Total Assets 0 0 0 0
