Multiple Choice
Use the following information to answer Questions bellow:
At the beginning of fiscal 2019, a county government acquires equipment for $4,000,000. The equipment has an estimated life of 5 years, and straight-line depreciation is used, with no residual value, if appropriate. At the end of fiscal 2020 (two years later) , the government disposes of the equipment for $1,800,000.
-If the equipment is reported in the general fund, what amount is subtracted in the fiscal 2020 reconciliation of the change in fund balances of governmental funds to the change in net position of governmental activities, related to this equipment?
A) $3,200,000
B) $2,400,000
C) $1,800,000
D) $ 600,000
Correct Answer:

Verified
Correct Answer:
Verified
Q20: Listed bellow are the required balance sheets
Q21: Here are some of the financial statements
Q22: Below is information on a county's
Q23: A county's operating statement for governmental funds
Q24: A county owns many roads, bridges, and
Q26: Use the following information to answer Questions
Q27: A county's CAFR shows an increase in
Q28: The government-wide financial statements divide activities between
Q29: Granite County entered the following equipment lease
Q30: Listed bellow the required operating statements for