Calculate the balances reported for compensated absences


Problem: Dare County, NC reports the following information about its compensated absence liabilities for fiscal 2016: (in thousands) Governmental Activities Business-Type Activities July 1, 2015, balance $2,589 $249 Additions 1,031 96 Reductions (1,020) (106) June 30, 2016, balance $2,600 $239 Assume that liability reductions were cash payments to employees, and that internal service fund compensated absences included in governmental activities are as follows: (in thousands) Internal Service Fund July 1, 2015, balance $59 Additions 43 Reductions (41) June 30, 2016, balance $61 Required Calculate the balances reported for compensated absences in Dare County's fiscal 2016 CAFR, in the following line items: a. Government-wide statement of activities: Governmental activities, expense Business-type activities, expense b. Government-wide statement of net position: Governmental activities, liability Business-type activities, liability c. Statement of revenues, expenditures, and changes in fund balances, governmental funds: Expenditure d. Balance sheet, governmental funds Liability e. Statement of revenues, expenses, and changes in net position, proprietary funds: Enterprise fund expense Internal service fund expense f. Statement of net position, proprietary funds: Enterprise fund liability Internal service fund liability

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Accounting Basics: Calculate the balances reported for compensated absences
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