Information About the Conversion of the Governmental Funds Balance Sheet

question 1

Essay

Information about the conversion of the Governmental Funds Balance Sheet to the Statement of Net Position for the City of Pleasant Hill is presented below all amounts are in thousands of dollars:
$\begin{array}{lr} \text { All governmental funds' fund balances } & \$ 13,000 \\ \text { Deferred revenue related to property taxes. } & 2,000 \\\text { Accrued interest on long-term liabilities } & 1,200 \\\text { General capital assets}&10,800\\\text { Accumulated depreciation on capital assets}&4,100\\\text { General long-term liabilities:}\\\text { Bonds payable for capital assets}&5,700\\\text { Liability for compensated absences}&3,200\\\text {Internal service fund serving governmental activities}\\\text {Net position}&3,000\\\text {Capital assets net of accumulated depreciation}&1,700\\\text {Liability, capital related}&500\end{array}$ Requirement: Prepare the reconciliation of total fund balance to net position for governmental activities for the City of Pleasant Hill, given the following information.

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Definitions:

Decentralization

The process of distributing or dispersing functions, powers, people, or things away from a central location or authority.

Expatriates

Employees assigned from headquarters or another location to work in a foreign market.

Headquarters

The central office or main location where a company's executive management and key administrative functions are located.

Foreign Market

Markets outside the domestic boundaries of a company where it conducts or aims to conduct business.