Business, 06.05.2021 18:50 sierram298

For Year 1, Crescent City displayed an increase in proprietary fund net position of $380,000 and excess of revenues and other financing sources over expenditures and other financing uses for all governmental funds of $450,000. The government also maintained an internal service fund whose purpose was to provide maintenance services to general government buildings. The internal service fund had an increase in net position of $15,000. During the year, the governmental funds had the following: Capital outlays$500,000
Proceeds from long-term debt (LTD) issue350,000
Principal payments on LTD45,000
Interest expenditures on LTD14,000
Depreciation expense on governmental assets75,000
Proceeds from the sale of land (net book value $150,000)190,000

Required:
Calculate the increase (decrease) in net position displayed in the government-wide statement of activities for governmental activities.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 20:50

What is the best definition of a conclusion?

Answers: 1

Answer

Business, 22.06.2019 13:10

Trey morgan is an employee who is paid monthly. for the month of january of the current year, he earned a total of $4,538. the fica tax for social security is 6.2% of the first $118,500 earned each calendar year, and the fica tax rate for medicare is 1.45% of all earnings for both the employee and the employer. the amount of federal income tax withheld from his earnings was $680.70. his net pay for the month is .

Answers: 1

Answer

Business, 22.06.2019 13:10

Paid-in-capital in excess of par represents the amount of proceeds a. from the original sale of common stock b. in excess of the par value from the original sale of common stock c. at the current market value of the common stock d. at the curent book value of the common stock

Answers: 1

Answer

Business, 22.06.2019 13:10

The textbook defines ethics as “the principles of conduct governing an individual or a group,” and specifically as the standards one uses to decide what their conduct should be. to what extent do you believe that what happened at bp (british petrolium) is as much a breakdown in the company’s ethical systems as it is in its safety systems, and how would you defend your conclusion?

Answers: 2

Answer

You know the right answer?

For Year 1, Crescent City displayed an increase in proprietary fund net position of $380,000 and exc...

Questions