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Question 1

City A issues $10 million of 30-year bonds and uses the proceeds to build a system of bike paths and mini-parks. What is the impact of this event on the Statement of Net Position (aka Statement of Net Assets) for the City's Governmental Activities and on the Balance Sheet for its Governmental Funds? (Don't worry about which Governmental Fund for now. Just think of the Governmental Funds as a group. And don't worry about the journal entries. Just focus on the impact of this event on the financial statements.)

Question 2

City B issues $10 million of 30-year bonds and gives the proceeds to a school district (a legally and fiscally separate entity with its own financial statements) to build a $10 million school. The school district does not have to pay the city back. What is the impact of this event on the Statement of Net Position (aka Statement of Net Assets) for the City's Governmental Activities and on the Balance Sheet for its Governmental Funds? (Again, don't worry about which Governmental Fund for now. Just think of the Governmental Funds as a group. And don't worry about the journal entries. Just focus on the impact of this event on the financial statements.)

Question 3.

City C issues $10 million of 30-year bonds and deposits the proceeds in its pension trust fund where it will be invested and used to provide retirement benefits for its employees. What is the impact of this event on the Statement of Net Position (aka Statement of Net Assets) for its Governmental Activities and on the Balance Sheet for its Governmental Funds? (Once again, don't worry about which Governmental Fund for now. Just think of the Governmental Funds as a group. And don't worry about the journal entries. Just focus on the impact of this event on the financial statements.)

 

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