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The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020: From
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020:
From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $866,000 for governmental activities and $355,000 for business-type activities. (Negative amounts should be indicated by a minus sign)
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 $ 590,000 1,241,000 702,000 2,068,000 814,000 21,126,000 11,111,000 1,010,000 874,000 12,192,000 5,016,000 566,000 CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities Total Assets: EA $ 0 0 Total Assets Liabilities: 0 0 0 0 0 Total Liabilities Net Position: 0 Total Net Position 0 $ 0 $ 0
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