HUO Accounting Capital Assets Question

Problem 13-1
Net Assets:
Invested in capital assets, net of related debt
Restricted for:
Debt service
Capital projects
Specific programs
Unrestricted
Total net assets
Computations:
Unrestricted net assets:
Total fund balances of governmental funds
Less:
Special Revenue Funds fund balances
Restricted Capital Projects Funds fund balances
Debt Service Funds fund balances
Long-term claims and judgments payable
Long-term compensated absences payable
Add:
Equity of Internal Service Funds
Less: ISF capital assets net of related debt
Total unrestricted net assets
Restricted net assets:
Special Revenue Funds fund balances
Debt Service Fund fund balance
Capital Projects Funds restricted fund balance
Less: Capital debt equal to unexpended bond proceeds
Total restricted net assets
Invested in Capital Assets, Net of Related Debt:
General capital assets
Less: Accumulated depreciation
Net general capital assets
Internal Service Fund capital assets
Less:
General long-term capital debt
Internal Service Fund capital debt
Total invested in capital assets, net of related debt
Problem 13-2
Computation of Thresholds for Size Tests to Identify Major Funds
Fund
General
Grants Special Revenue
School Special Revenue
Debt Service
Capital Projects
TotalsGovernmental Funds
Transit EF
Water & Sewer EF
Civic Center EF
Public Parking EF
TotalsEnterprise Funds
TotalsAll governmental
and Enterprise Funds
10% testGovernmental funds
10% testEnterprise Funds
5% testAll governmental funds and
Enterprise Funds
ThresholdGovernmental Funds
ThresholdEnterprise Funds
Assets
Liabilities
Revenues
Expenditures/
Expenses
Indicate if the size tests are met
Size Tests Results Using Thresholds
Both Size Tests Met for Major Fund Classification
Fund
Expenditures/
Assets
Grants Special Revenue
School Special Revenue
Debt Service
Capital Projects
Transit EF
Water & Sewer EF
Civic Center EF
Public Parking EF
Liabilities
Revenues
Expenses
City of Corona, California
Governmental Funds
Reconciliation of Changes in Fund Balance to Changes in Net Position
For the Year Ended (Date)
Reconciliation of Net Change in Fund Balances to Change in Net Assets
Net change in fund balancestotal governmental funds
General Capital Asset Changes:
Capital outlays
Less: current year depreciation
General Long-Term Liability Changes:
Repayment of bond principal
Interest expenditures in excess of interest expenses
Net amount of expenses in excess of related expenditures.
Other Changes:
Revenues that do not provide current financial resources
The net revenue (expense) of the internal service funds
Change in net position of governmental activities

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