A government's Statement of Revenues,Expenditures,and Changes in Fund Balances reported proceeds of bonds in the amount of $1,000,000.It also reported expenditures for bond principal in the amount of $400,000.The last interest payment was on the last day of the fiscal year.The reconciliation from the governmental funds changes in fund balances to the governmental activities change in net assets would reflect a(an) :
A) Increase of $600,000.
B) Decrease of $600,000.
C) Increase of $1,400,000.
D) Decrease of $1,400,000.
Correct Answer:
Verified
Q62: Which of the following statements is not
Q70: When preparing government-wide financial statements, the modified
Q78: A government recorded transfers out of the
Q79: A government reported an other financing source
Q83: A government reported expenditures for infrastructure as
Q84: A governmental fund's Statement of Revenues,Expenditures,and Changes
Q85: Which of the following is not required
Q85: The City of Smithfield levied property taxes
Q86: A government reported an Other Financing Source
Q93: A government incurred expenditures for its infrastructure
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents