In: Accounting
The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2017:
Cash and cash equivalents, governmental activities |
$410,000 |
Cash and cash equivalents, business-type activities |
863,000 |
Receivables, governmental activities |
486,000 |
Receivables, business-type activities |
1,436,000 |
Inventories, business-type activities |
562,000 |
Capital assets, net, governmental activities |
14,590,000 |
Capital assets, net, business-type activities |
7,673,000 |
Accounts payable, governmental activities |
702,000 |
Accounts payable, business-type activities |
604,000 |
General obligation bonds, governmental activities |
8,428,000 |
Revenue bonds, business-type activities |
3,468,000 |
Long-term liability for compensated absences, governmental activities |
388,000 |
Required:
From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2017. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $598,000 for governmental activities and $205,000 for business-type activities. (Negative amounts should be indicated by a minus sign).