The following items were included in Castle City's General Fund expenditures for the year ended June Personal computer for the city treasurer $ 6,000
Furniture for the mayor's office $ 20,000
How much should be classified as capital assets in Castle City's government-wide statement of net position at June 30?

Question

Quizplus · Accepted Answer

Both the personal computer for the city treasurer and the furniture for the mayor's office are classified as capital assets. Therefore, the total amount that should be classified as capital assets is $6,000 + $20,000 = $26,000.

The Following Items Were Included in Castle City's General Fund