The data in the accompanying table were extracted from a city's fund statements (in millions).
1. Prepare in summary form a government-wide statement of activities and a statement of net position. Although you need not prepare the statement in the format pre scribed by the GASB, be sure to have separate columns for governmental and business-type activities and for ''totals.''
2. GASB Statement No. 34 states that ''the effect of inter fund services provided and used between functions-for example, the sale of water or electricity from a utility to the general government-should not be eliminated in the statement of activities. ''What would be the rationale for such aposition?

Transcribed Image Text:

Gencral Internal Service Fund Revenaes (from outside sources) Revenucs (from other funds) Expenses/expenditures (to outsiders) Expenses/expenditures (to internal service fund) Excess of revenues over expenses/expenditares Assets (excluding interfund receivables) Receivahles (from other funds) Toml assets Liabilities (to outsiders) Payables (to internal service fund) Total liabilitics