Lake City is preparing a reconciliation of governmental funds Statement of Revenues, Expenditures & Changes in Fund Bala
Posted: Thu May 19, 2022 12:49 pm
Lake City is preparing a reconciliation of governmental funds
Statement of Revenues, Expenditures & Changes in Fund Balance
to the Government-wide Statement of Activities for the year ending
12/31/22. As of 12/31/21, there were $6,000,000 in bonds payable
outstanding. During the 2022 calendar year, $500,000 of new bonds
were issued and a $100,000 payment of principal on bonds payable
was made. The 2022 adjustment on the
aforementioned reconciliation would include the following net
dollar amount:
Group of answer choices
$<400,000>.
$<500,000>.
$100,000.
$<6,400,000>.
Statement of Revenues, Expenditures & Changes in Fund Balance
to the Government-wide Statement of Activities for the year ending
12/31/22. As of 12/31/21, there were $6,000,000 in bonds payable
outstanding. During the 2022 calendar year, $500,000 of new bonds
were issued and a $100,000 payment of principal on bonds payable
was made. The 2022 adjustment on the
aforementioned reconciliation would include the following net
dollar amount:
Group of answer choices
$<400,000>.
$<500,000>.
$100,000.
$<6,400,000>.