What amount should be recorded as capital assets in the, Ask an Expert

Accounting

The following general capital assets were owned by fearville city:

city buildings 4100,000
equipment 1,100,000
streets, sidewalks 2900,000

what amount should be recorded as capital assets in the cites governmental activities accounts if Bearville follows GASB Standards?

A. $0

B. $2,900,000

C. 5,200,000

D. $8,100,000

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M957301

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