Question

2-1. The following information is available for the preparation of the governmen wide financial statements for the city of Southern Springs as of April 30 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 $ 3,850,000 880,000 650,000 1,330,000 520,000 10,600,000 11,350,000 650,000 659,000

Answer 1

City of Southern Springs Statement of Net Positions of April 30, 2017

	Business Type Activities	Governmental Activities	Total
ASSETS
Cash and cash equivalents	$880,000	$3,850,000	$4,730,000
Receivables	$1,330,000	$650,000	$1,980,000
Inventories	$520,000		$520,000
Capital assets	$11,350,000	$10,600,000	$21,950,000
Total	$14,080,000	$15,100,000	$29,180,000
LIABILITIES
Account payable	$659,000	$650,000	$1,309,000
Noncurrent liabilities	$3,210,000	$5,450,000	$8,660,000
Total	$3,869,000	$6,100,000	$9,969,000
NET ASSETS :
Net position, invested in Capital assets	$8,140,000	$5,150,000	$13,290,000
Net position, restricted for debt service	$223,000	$754,000	$977,000
Total Net Position	$8,363,000	$5,904,000	$14,267,000