Capital assets in the cites governmental activities, Accounting Basics

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Capital assets in the cites governmental activities

The following general capital assets were owned by fearville city:

city buildings 4100,000
equipment 1,100,000
streets, sidewalks 2900,000

what amount should be recorded as capital assets in the cites governmental activities accounts if Bearville follows GASB Standards?

A. $0

B. $2,900,000

C. 5,200,000

D. $8,100,000

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Accounting Basics: Capital assets in the cites governmental activities

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Accounting Basics: Capital assets in the cites governmental activities

Reference No:- TGS057301

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Journal entry to record the purchase of raw materials

Q : Making a cost of goods manufactured schedule

Q : Establishment over cash transaction

Q : Problem based on same inventory method

Q : Capital assets in the cites governmental activities

Q : Payment of principal-interest on long term debt

Q : Early retirement of the bonds

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Capital assets in the cites governmental activities

Reference No:- TGS057301

Recent Questions Asked Accounting Basics

Q : Journal entry to record the purchase of raw materials

Q : Making a cost of goods manufactured schedule

Q : Establishment over cash transaction

Q : Problem based on same inventory method

Q : Capital assets in the cites governmental activities

Q : Payment of principal-interest on long term debt

Q : Early retirement of the bonds

Q : Cash payments made to suppliers

Q : Calculate the cost per equivalent unit for materials

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