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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 | $ | 480,000 | |
Cash and cash equivalents, business-type activities | 1,010,000 | ||
Receivables, governmental activities | 570,000 | ||
Receivables, business-type activities | 1,683,000 | ||
Inventories, business-type activities | 660,000 | ||
Capital assets, net, governmental activities | 17,133,000 | ||
Capital assets, net, business-type activities | 9,010,000 | ||
Accounts payable, governmental activities | 823,000 | ||
Accounts payable, business-type activities | 709,000 | ||
General obligation bonds, governmental activities | 9,893,000 | ||
Revenue bonds, business-type activities | 4,070,000 | ||
Long-term liability for compensated absences, governmental activities | 456,000 | ||
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 $701,000 for governmental activities and $245,000 for business-type activities. (Negative amounts should be indicated by a minus sign)
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