The City of Williamsport maintains its books in order to prepare fund accounting statements and prepares worksheet adjustments in order to prepare government-wide financial statements.

Use the Excel template for Question 43 that you downloaded from this module to prepare, in journal form, worksheet adjustments for each of the following situations.

1. General fixed assets, as of the beginning of the year, which had not been recorded, were as follows:

   Land	$45,500,000
   Buildings	540,000,000
   Improvements other than buildings	107,500,000
   Equipment	175,000,000
   Accumulated depreciation: capital assets	175,300,000

2. During the year, expenditures for capital outlays amounted to $12,350,000. Of that amount, $8,100,000 was for buildings; $1,500,000 was for improvements other than buildings; and the remainder was for land.
3. The capital outlay expenditures outlined in (B) were completed at the end of the year (no depreciation until next year). For purposes of financial-statement presentation, all capital assets are depreciated using the straight-line method, with no estimated salvage value. Estimated lives are as follows: buildings, 50 years; improvements other than buildings, 20 years; and equipment, 10 years.
4. Equipment with a cost of $70,000 and accumulated depreciation at the time of sale of $17,000 was sold for $45,000.
5. In the governmental funds statement of revenues, expenditures, and changes in fund balances, the city reported proceeds from the sale of land in the amount of $600,000. The land originally cost $535,000.