The Following Information Is Available for the Preparation of the Government-Wide

question 82

Essay

The following information is available for the preparation of the government-wide financial statements of the City of Aurora as of June 30,2014:
Assume all long-term liabilities were incurred in the acquisition of capital assets.
Required:
From the information given above,prepare,in good form,a Statement of Net Assets for the City of Aurora as of June 30,2014.Include the unrestricted net assets,which is to be computed from the information presented above.Include a total column.Aurora has no component units.

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Definitions:

Business Enterprises

Organizations engaged in commercial, industrial, or professional activities, aiming to generate profits.

Boards of Directors

A group of individuals elected to represent shareholders and oversee the management and direction of a company or organization.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that govern how financial statements should be prepared and presented globally.

Local Environment

The specific conditions and natural surroundings in which a business or entity operates, including factors like climate, ecology, and community.