Below is the June 30, 2014, governmental funds balance sheet for Collins County (in…

 
   

Need your ASSIGNMENT done? Use our paper writing service to score better and meet your deadlines.  

Below is the June 30, 2014, governmental funds balance sheet for Collins County (in thousands): Assets Cash………………………………………………. $200,000 Property taxes receivable, net ………………………128,000 State grant receivable……………………………… 100,000 Investments…………………………………………150,000 Total……………………………………………… $578,000 Liabilities and fund balances Accounts payable…………………………………. $175,000 Fund balance-restricted……………………………. 20,000 Fund balance-assigned for capital projects………..200,000 Fund balance-assigned for debt service…………… 80,000 Fund balance-unassigned………………………… 103,000 Total………………………………………………..$578,000 Additional information (in thousands): 1. The county owns capital assets with original cost of $430,000 and accumulated depreciation of $ 150,000. 2. Total accrued compensated absences and OPEB costs are $65,000. 3. Total bonds payable outstanding is $250,000. 4. Accrued interest payable on bonds is $3,000. 5. Internal service fund net position is $5,000. Required Prepare a reconciliation of governmental funds fund balances to governmental activities net position as of June 30, 2014. View Solution:
Below is the June 30 2014 governmental funds balance sheet