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Posted: October 20th, 2022
Circus City issued an 8% 10-year $2000000 bond to build a monorail mass transit
Circus
City issued an 8% 10-year $2000000 bond to build a monorail mass
transit system. The city received $1754217 cash from the bond issuance
on January 1 2008. The bond yield is 10%. Interest is paid annually on
December 31 of each year. Disclosure information about capital assets
is reported below.AND SO ONRequired:Using
the information above prepare the statement of activities and the
statement of net assets on a government-wide basis (using full accrual
accounting). The beginning fund balance in the government-wide Statement
of Net Assets is $2686283.
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