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The following are some of the financial statements required in the State of New York CAFR:...

The following are some of the financial statements required in the State of New York CAFR:

  1. Government-wide statement: statement of net position
  2. Government-wide statement: statement of activities
  3. Fund statement: balance sheet–governmental funds
  4. Fund statement: statement of revenues, expenditures and changes in fund balances—governmental funds
  5. Fund statement: statement of net position–proprietary funds
  6. Fund statement: statement of revenues, expenses and changes in net position–proprietary funds

For each of the following balances related to the financial performance of the State of New York, indicate the number(s) of the statements on which the balance is reported.

Depreciation expense on general fund assets

2 and 4

2 only

2, 4 and 6

4 only

NOTE: 2 and 4 is INCORRECT

Solutions

Expert Solution

Depreciation is reported in the following statements

Fund Financial Statements - 5 Governmental Funds (Modified Accrual Basis)

1. Balance Sheet
2. Statement of Revenue, Expenditures, and Change in Fund Balance

Fund Financial Statements - 2 Proprietary Funds

1. Balance Sheet
2. Statement of Revenue, Expenses, and Change in Net Assets
3. Statement of Cash Flows

The answer is 2,4 and 6 it is reported under all of these Statements

Statement of activities

Statement of revenues , expenditure and

Statement of proprietary funds

ekkarill92 answered 2 years ago
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