The following information is available for the preparation of the government-wide financial statements for the city o Southern Springs as of April 30, 2024: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities $3,610,000 812,000 603,000 1,224,000 485,000 9,783,000 10,468,000 604,000 613,000 5,086,000 3,036,000
The following information is available for the preparation of the government-wide financial statements for the city o Southern Springs as of April 30, 2024: Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities $3,610,000 812,000 603,000 1,224,000 485,000 9,783,000 10,468,000 604,000 613,000 5,086,000 3,036,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Q3
![The following information is available for the preparation of the government-wide financial statements for the city of
Southern Springs as of April 30, 2024:
Cash and cash equivalents, governmental activities
Cash and cash equivalents, business-type activities
Receivables, governmental activities
Receivables, business-type activities
Inventories, business-type activities
Capital assets, net, governmental activities
Capital assets, net, business-type activities
Accounts payable, governmental activities
Accounts payable, business-type activities
Noncurrent liabilities, governmental activities
Noncurrent liabilities, business-type activities
Net position, net investment in capital assets, governmental activities
Net position, net investment in capital assets, business-type activities
Net position, restricted for debt service, governmental activities
Net position, restricted for debt service, business-type activities
$3,610,000
812,000
603,000
1,224,000
485,000
9,783,000
10,468,000
604,000
613,000
5,086,000
3,036,000
4,697,000
7,432,000
700,000
214,000
From the preceding information, prepare, in good form, a Statement of Net Position for the city of Southern Springs as
of April 30, 2024. Calculate and include the unrestricted net position. Include a total column.
Note: Calculate and include the unrestricted net position.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7038cbde-5259-4f1b-ade8-fa8f6320a6eb%2F79f9b2ba-8cf1-4ed8-a523-66bf9859d532%2F3dtfb9p_processed.png&w=3840&q=75)
Transcribed Image Text:The following information is available for the preparation of the government-wide financial statements for the city of
Southern Springs as of April 30, 2024:
Cash and cash equivalents, governmental activities
Cash and cash equivalents, business-type activities
Receivables, governmental activities
Receivables, business-type activities
Inventories, business-type activities
Capital assets, net, governmental activities
Capital assets, net, business-type activities
Accounts payable, governmental activities
Accounts payable, business-type activities
Noncurrent liabilities, governmental activities
Noncurrent liabilities, business-type activities
Net position, net investment in capital assets, governmental activities
Net position, net investment in capital assets, business-type activities
Net position, restricted for debt service, governmental activities
Net position, restricted for debt service, business-type activities
$3,610,000
812,000
603,000
1,224,000
485,000
9,783,000
10,468,000
604,000
613,000
5,086,000
3,036,000
4,697,000
7,432,000
700,000
214,000
From the preceding information, prepare, in good form, a Statement of Net Position for the city of Southern Springs as
of April 30, 2024. Calculate and include the unrestricted net position. Include a total column.
Note: Calculate and include the unrestricted net position.
![Assets:
Total Assets
Liabilities:
Total Liabilities
Net position:
Total Net Position
CITY OF SOUTHERN SPRINGS
Statement of Net Position
As of April 30, 2024
Governmental
Activities
Business-Type
Activities
Total](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7038cbde-5259-4f1b-ade8-fa8f6320a6eb%2F79f9b2ba-8cf1-4ed8-a523-66bf9859d532%2F3317g17_processed.png&w=3840&q=75)
Transcribed Image Text:Assets:
Total Assets
Liabilities:
Total Liabilities
Net position:
Total Net Position
CITY OF SOUTHERN SPRINGS
Statement of Net Position
As of April 30, 2024
Governmental
Activities
Business-Type
Activities
Total
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