Fixed assets are reported in the governmental funds Balance Sheet.
Fixed assets are reported in the government-wide Statement of Net Assets.
Both of the above.
Neither of the above.
Change expenditures for debt service principal to reduction of liabilities
Make adjustments to revenues to convert to the accrual basis of revenue recognition
Record capital assets
All of the above
After preparing the government wide statement
After the closing entries
After you have completed all adjustments
None of the above, they are not posted
Government-wide statements are prepared using the economic resources measurement focus and accrual basis of accounting.
Government-wide statements include the Statement of Net Assets, the Statement of Activities, and the Statement of Cash Flows.
Both of the above are true.
Neither of the above is true.
An increase of $400,000
An decrease of $400,000