The following information is available for the preparation of the government-wide financial statements of the City of Tall Oaks as of June 30, 2009:
Accounts payable, business-type activities Accounts payable, governmental activities Capital assets, net, business-type activities Capital assets, net, governmental activities Cash and cash equivalents, business-type activities Cash and cash equivalents, governmental activities Inventories, business-type activities Net assets, restricted for debt service, business-type activities Net assets, restricted for debt service, governmental activities Noncurrent liabilities, business-type activities Noncurrent liabilities, governmental activities Receivables, business-type activities $210,000400,00010,400,00012,900,000900,0001,600,000600,000400,000650,0003,700,0005,640,0001,330,000500,000 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 Tall Oaks as of June 30, 2009. Include the unrestricted net assets, which is to be computed from the information presented above. Include a total column. Tall Oaks has no component units.
Definitions:
Milgram Experiment
A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.
Stanford University Prison Experiment
A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.
Generalization
Drawing a conclusion about a certain characteristic of a population based on a sample from it.
Logical Support
The provision of reasons or evidence to justify a claim or argument.