Below is the June 30, 2014, governmental funds balance sheet for Collins County (in…

Below is the June 30, 2014, governmental funds balance sheet for Collins County (in thousands): Assets Cash………………………………………………. $200,000 Property taxes receivable, net ………………………128,000 State grant receivable……………………………… 100,000 Investments…………………………………………150,000 Total……………………………………………… $578,000 Liabilities and fund balances Accounts payable…………………………………. $175,000 Fund balance-restricted……………………………. 20,000 Fund balance-assigned for capital projects………..200,000 Fund balance-assigned for debt service…………… 80,000 Fund balance-unassigned………………………… 103,000 Total………………………………………………..$578,000 Additional information (in thousands): 1. The county owns capital assets with original cost of $430,000 and accumulated depreciation of $ 150,000. 2. Total accrued compensated absences and OPEB costs are $65,000. 3. Total bonds payable outstanding is $250,000. 4. Accrued interest payable on bonds is $3,000. 5. Internal service fund net position is $5,000. Required Prepare a reconciliation of governmental funds fund balances to governmental activities net position as of June 30, 2014. View Solution:
Below is the June 30 2014 governmental funds balance sheet

 

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