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A governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances reported expenditures of $30 million, including capital outlay expenditures of $5 million.

A governmental fund Statement of Revenues, Expenditures, and Changes in Fund Balances reported expenditures of $30 million, including capital outlay expenditures of $5 million. Capital assets for that government cost $90 million, including land of $10 million. Depreciable assets are amortized over 20 years, on average. The reconciliation from governmental changes in fund balances to governmental activities changes in net assets would reflect a(an):

            A) Decrease of $1 million.

            B)   Increase of $l million.

            C)   Increase of $5 million.

           D) Decrease of $4 million.


Solutions

Expert Solution

Depreciation expense = (90m-10m)/20 = $4 millions

Reconciliation from governmental changes in fund balances to governmental activities changes in net assets would reflect an (an) increase of $1 million

= 5 million - 4million

= Increase of $1 million

ekkarill92 answered 2 years ago
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