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daser333 [38]
3 years ago
6

A state government reported a $9,000 increase in net position in the motor pool internal service fund, a $12,000 increase in net

position in the water enterprise fund, and a $7,000 increase in the employee pension fund. The motor pool internal service fund provides service primarily to the police department. What amount should the city report as the change in net position for business-type activities in its statement of activities?
Business
1 answer:
Anastaziya [24]3 years ago
8 0

Answer: $12,000

Explanation:

Only the $12,000 will be reported in Statement of Activities ( the financial statement used to report revenues and expenses for governmental and business-type activities) as a change in net position for business-type activities.

Why?

The Water Entreprise Fund is the only listed fund type listed that would fall under BUSINESS TYPE because it is an ENTREPRISE Fund. The Motor Pool Internal Service falls under GOVERNMENT ACTIVITIES and the Pension Find is only displayed in the Fund Financial Statements.

Because the Water Entreprise Fund is the only fund here concerned with BUSINESS TYPE activities, it's rise by $12,000 is what will be reported as the Net Change.

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In the recent past, the government has attempted to stimulate the economy by sending tax refunds to individual people so that th
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The correct answer to the following question will be "Consumption".

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3 0
3 years ago
William (71), a retired single taxpayer, received a monthly pension of $2,500 ($30,000 annually). He did not contribute any afte
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Based on the information given, it should be noted that the amount of William's pension distribution that is taxable is $30000.

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It should be noted that pension is counted as a regular income for tax purposes. Therefore, the pension that'll be received by William will be a taxable income

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4 0
2 years ago
The government spends $45 million on heart disease research and gains in reducing death from heart disease are significant. If t
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