The following balances are included in the subsidiary records of Carrollwood: Town hall building .................... $500,000
Town pool (supported by user fees)...... 100,000
Police cars .......................... 20,000
Equipment .......................... 7,500
Office supplies ....................... 1,000
What is the total amount of general capital assets held by the town?

Question

Quizplus · Accepted Answer

The general capital assets would be the total value of the town hall building, police cars, and equipment since these are assets used in the normal operations of the town. The office supplies would not be considered a general capital asset. Therefore, the total amount of general capital assets would be $500,000 + $20,000 + $7,500 = $527,500.

The Following Balances Are Included in the Subsidiary Records of Carrollwood