Compute the net assets displayed in the governmental

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Reference no: EM133360223

Case: Fund balances of the city's governmental funds totaled $6,550,000 for the year ended December 31, 2020. Subsidiary accounting records for the city include the following information:

Capital assets used in governmental activities	$2,000,000
Accumulated depreciation on capital assets used in governmental activities	$500,000
Long-term debt obligations issued to finance governmental projects	$2,500,000
Internal Service Fund Net Assets	$200,000
Proprietary Fund Net assets	$7,500,000
Fiduciary Fund Net assets	$650,000

Required: Compute the net assets displayed in the governmental activities column of the government-wide financial statements.

Reference no: EM133360223

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