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A governmental funds Statement of Revenues, Expenditures and Changes in Fund Balances reported expenditures of $30 million, including capital outlay expenditures of $2 million. Capital assets for that government cost $70 million, including land of $10 million. Depreciable assets are amortized over 20 years, on average. The reconciliation from governmental changes in fund balances to governmental activities changes in net assets would reflect a(an):

A. Decrease of $1 million

B. Increase of $l million

C. Decrease of $3 million

D. Increase of $2 million

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Accounting Basics, Accounting

Category:- Accounting Basics
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