The r econci l i ati on f r om the gover nmental f

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Unformatted text preview: of bonds i n the amount of $500,000. It al so r epor ted expendi tur es f or bond pr i nci pal i n the amount of $1,000,000. The l ast i nter est payment was on the l ast day of the f i scal year . The r econci l i ati on f r om the gover nmental f unds changes i n f und bal ances to the gover nmental acti vi ti es change i n net assets woul d r ef l ect a(an): A) Incr ease of $500,000. B) Decr ease of $500,000. C) Incr ease of $1,500,000. D) Decr ease of $1,500,000. P oints Earned: 1.0/1.0 Correct Answer(s): A 7. A gover nment r epor ted expendi tur es f or i nf r astr uctur e as f ol l ows: $20 mi l l i on f or i mpr ovements and addi ti ons; $18 mi l l i on to extend the l i f e of exi sti ng i nf r astr uctur e; $16 mi l l i on f or gener al r epai r s. The cost of i ts i nf r astr uctur e, excl udi ng l and, i s $750 mi l l i on, and the i nf r astr uctur e has an esti mated l i f e of 50 year s, on aver age. Whi ch of the f ol l owi ng woul d be the r epor ted expense (i n mi l l i ons) under each of the f ol l owi ng opti ons A) Depr eci ati on Appr oach: $53; Modi f i ed Appr oach: $34 B) Depr eci at...
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This note was uploaded on 09/10/2013 for the course ACNT 2330 taught by Professor Corn during the Spring '13 term at Lone Star College System.

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