Tinsel Town has only two funds, the General Fund (GF), and a Capital Projects Fund (CPF). Summarized operating statements for each of the funds for fiscal 2019 are as follows: $$\begin{array} { l r r r }
& \text { GF } & \text { CPF } & \text { Total } \
\text { Revenues }& \$ 100 & \$ - & \$ 100 \
\text { Expenditures } & 89 & 62 & 151 \
\text { Bond proceeds } & - & 70 & 70 \
\text { Increase in fund balance } & 11 & 8 & 19 \
\text { Beginning fund balance } & 52 & 0 & 52 \
\text { Ending fund balance }& 63 & 8 & 71
\end{array}$$ Assume that all the expenditures in the Capital Projects Fund were capital outlays and that all the expenditures in the General Fund were for operations. Also, assume that revenues in the General Fund would be the same under the modified accrual and accrual basis of accounting. The total net position balance for Tinsel Town's governmental activities in the government-wide financial statements at the end of fiscal 2019 is:

Question

Tinsel Town has only two funds, the General Fund (GF), and a Capital Projects Fund (CPF). Summarized operating statements for each of the funds for fiscal 2019 are as follows: $$\begin{array} { l r r r } 
 & \text { GF } & \text { CPF } & \text { Total } \
\text { Revenues }& \$ 100 & \$ - & \$ 100 \
\text { Expenditures } & 89 & 62 & 151 \
\text { Bond proceeds } & - & 70 & 70 \
\text { Increase in fund balance } & 11 & 8 & 19 \
\text { Beginning fund balance }  & 52 & 0 & 52 \
\text { Ending fund balance }& 63 & 8 & 71
\end{array}$$  Assume that all the expenditures in the Capital Projects Fund were capital outlays and that all the expenditures in the General Fund were for operations. Also, assume that revenues in the General Fund would be the same under the modified accrual and accrual basis of accounting. The total net position balance for Tinsel Town's governmental activities in the government-wide financial statements at the end of fiscal 2019 is:

Quizplus · Accepted Answer

The Answer of Tinsel Town has only two funds, the General Fund (GF), and a Capital Projects Fund (CPF). Summarized operating statements for each of the funds for fiscal 2019 are as follows: $$\begin{array} { l r r r } 
 & \text { GF } & \text { CPF } & \text { Total } \
\text { Revenues }& \$ 100 & \$ - & \$ 100 \
\text { Expenditures } & 89 & 62 & 151 \
\text { Bond proceeds } & - & 70 & 70 \
\text { Increase in fund balance } & 11 & 8 & 19 \
\text { Beginning fund balance }  & 52 & 0 & 52 \
\text { Ending fund balance }& 63 & 8 & 71
\end{array}$$  Assume that all the expenditures in the Capital Projects Fund were capital outlays and that all the expenditures in the General Fund were for operations. Also, assume that revenues in the General Fund would be the same under the modified accrual and accrual basis of accounting. The total net position balance for Tinsel Town's governmental activities in the government-wide financial statements at the end of fiscal 2019 is:

Tinsel Town Has Only Two Funds, the General Fund (GF)