What amount would be reflected in the government-wide financial statements as a liability for capital leases as of December 31,2012?

Question

Quizplus · Accepted Answer

According to the information given in the question, the governmental activities had capital leases of $29,087 as of December 31, 2012, but $366 of this amount had already been paid by that time. Therefore, the amount that still remained unpaid and should be reflected as a liability for capital leases in the government-wide financial statements as of December 31, 2012, is $29,087 - $366 = $27,721. Therefore, Choice C is the correct answer.

What Amount Would Be Reflected in the Government-Wide Financial Statements