The following general capital assets were owned by the Town of Otterville: Town buildings $3,250,000
Intangible assets 1,000,000
Streets,sidewalks,and water lines 2,000,000
What amount should be recorded as capital assets in the town's governmental activities accounts?

Question

Quizplus · Accepted Answer

All the listed assets (town buildings, intangible assets, streets, sidewalks, and water lines) are considered capital assets for governmental activities, totaling $6,250,000.

The Following General Capital Assets Were Owned by the Town