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Unformatted text preview: ($4,311,000 = $4,329,000 - $18,000) 4,311,000 Internal service funds are used by management to charge costs of certain activities. The assets and liabilities of the internal service fund and are Included in governmental activities In the statement of net assets. 37,000 Long-term liabilities, including bonds payable, are not due and payable in the current period and therefore are not reported as liabilities in the governmental funds. (460,000) Interest in the governmental funds is recognized under the modified accrual basis, but under the accrual basis for the government-wide financial statements. Net assets are adjusted for interest ($5,000 = $6,000 - $1,000). (5,000) Net assets of governmental activities $4,771,400...
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This note was uploaded on 10/09/2011 for the course ACC 253 taught by Professor Strimling during the Fall '11 term at Harper.
- Fall '11
- Balance Sheet