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    Consolidated Balance Sheet - Government

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    Combining Balance Sheet

    Special Capital Debt Permanent
    General Revenue Projects Service (Endowment)
    Fund Fund Fund Fund Fund Totals
    Assets
    Cash $38 $20 $35 $340 $10 $443
    Investments 105 60 480 136 960 1,741
    Due from Other Funds - 120 46 39 - 205
    Total Assets $143 $200 $561 $143 $515 $143 $970 $2,389

    Recast the balance sheet in the form of a single consolidated, full accrual balance sheet.

    Why a consolidated balance sheet is not substitute for combined balance sheet that reports on major funds.

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    https://brainmass.com/business/the-role-of-government-and-regulation/consolidated-balance-sheet-government-115386

    Solution Preview

    (1) GASB Statement No. 34, Basic Financial Statements requires the financial statements to be presented using the full accrual method which recognizes the financial effect of events that impact the entity during the accounting period, regardless of whether cash has been received or spent.
    We can get a single ...

    Solution Summary

    The solution recasts the balance sheet in the form of a single consolidated, full accrual balance sheet. Why a consolidated balance sheet is not substitute for a combined balance sheet that reports major funds is discussed.

    $2.49

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