Question
The funds of a county government report the following noncurrent asset acquisitions during the year: General fund $4,000,000 Capital projects fund 9,000,000 Special revenue fund
The funds of a county government report the following noncurrent asset acquisitions during the year:
|
| General fund | $4,000,000 |
|
| Capital projects fund | 9,000,000 |
|
| Special revenue fund | 500,000 |
|
| Internal service fund | 1,000,000 |
|
| Enterprise fund | 5,000,000 |
|
| Fiduciary funds | 200,000 |
On the government-wide statement of net position, what amount of the above acquisitions will be capitalized as assets?
| A. | $19,700,000 | |
| B. | $19,500,000 | |
| C. | $14,500,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Social Media Audit Measure For Impact
Authors: Urs E. Gattiker
2013 Edition
1461436028, 978-1461436027
