ACC 308 Fall 2011 State and Local Government (SLG) Financial Statement Assignme 1 2 3 4 5 CHECK FIGURES: Governmental Funds - Balance Sheet - total fund balances $41,671,632 Learning Objectives: To prepare financial statements for a local government for governmental activities and governmental funds following the GASBS 34 reporting model; to compare and contrast modified accrual and accrual basis of accounting; to demonstrate that each fund (and governmental activities) is a separate accounting entity; use Excel to construct a reporting template. Prepare the two government-wide statements and the two governmental fund financial statements for the Kewadin City for the 2011 calendar year based on the trial balances provided in each worksheet. Ignore business-type activities, proprietary and fiduciary funds, component units, and reconciliations. ASSUME THAT ALL CHANGES FOR THE YEAR AFFECT UNRESTRICTED NET ASSETS OR UNRESERVED FUND BALANCES. THAT'S NOT REALISTIC, BUT YOU DO NOT HAVE ENOUGH INFORMATION TO
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