Using the annual financial report obtained for Exercise 1-1, answer the following questions: a. Find the Statement
Question:
Using the annual financial report obtained for Exercise 1-1, answer the following questions:
a. Find the Statement of Net Position for the proprietary funds. Is the Net Position or the Balance Sheet format used? List the major enterprise funds from that statement. Is the statement classified between current and noncurrent assets and liabilities?
b. Find the Statement of Cash Flows for the proprietary funds. List the four categories of cash flows. Are they the same as shown in the text?
c. If your government has a CAFR, look to any combining statements and list the nonmajor enterprise funds.
Balance SheetBalance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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a The Net Position of the plan was 878 million at the end of fis...View the full answer
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Related Book For 
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0078025815
12th edition
Authors: Paul Copley
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