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A government reported another financing source in the amount of $800,000, related to the sale of land in its governmental funds Statement of Revenues, Expenditures, and Changes in Fund Balances. The land had a cost of $350,000. The adjustment in the reconciliation, when moving from the governmental Funds Statement of Revenues, Expenditures, and Changes in Fund Balances to the change in net assets for governmental activities in the Statement of Activities would be a(an):

A) Increase of $450,000.

B) Decrease of $450,000.

C) Increase of $350,000.

D) Decrease of $350,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
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