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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: Cash
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:
Cash and cash equivalents, governmental activities | $ | 530,000 | |
Cash and cash equivalents, business-type activities | 1,115,000 | ||
Receivables, governmental activities | 630,000 | ||
Receivables, business-type activities | 1,858,000 | ||
Inventories, business-type activities | 730,000 | ||
Capital assets, net, governmental activities | 18,948,000 | ||
Capital assets, net, business-type activities | 9,965,000 | ||
Accounts payable, governmental activities | 908,000 | ||
Accounts payable, business-type activities | 784,000 | ||
General obligation bonds, governmental activities | 10,938,000 | ||
Revenue bonds, business-type activities | 4,500,000 | ||
Long-term liability for compensated absences, governmental activities | 506,000 | ||
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 $776,000 for governmental activities and $295,000 for business-type activities. (Negative amounts should be indicated by a minus sign)
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