On january 1, 2017 the city of graf pays $85,500 fora work of art to display in the local library. the city will take appropriate measures to protect and preserve the piece. however, if the work is ever sold, the money received will go into unrestricted funds. the work is viewed as inexhaustible, but the city has opted to depreciate this cost over 15 years (using the straight-line method) a. how is this work to be reported on the government-wide financial statements for the year ended december 31, 2017? b. how is this work to be reported in the fund financial statements for the year ended december 31, 2017?

Explanation:

The journal entries are shown below:

a. Artwork A/c Dr $85,500

        To CashA/c                                       $85,500

(Being work is reported on the government-wide financial statements)

Depreciation Expense A/c Dr $5,700

        To Accumulated Depreciation A/c $5,700

(Being depreciation expense is recorded)

The depreciation expense is shown below:

= Original cost ÷ useful life

= $85,500 ÷ 15 years

= $5,700

b. Artwork expenditure A/c Dr  $85,500

           To Cash A/c  $85,500

(Being  work is reported on the fund financial statements

the correct answer would be b, when, queen, calder hall and london.

explanation:

we always capitalize words when a paragraph or sentence is starting, when an important name is used, when a place is being written, or simply when a noun is used, etc. so in this sentence, sentence is starting from 'when', so it will be written in capital letters. secondly, queen is considered to be an important person, so it will also be written in capital letter. next, the name of the town is mentioned, i-e calder hall, which will also be written in capital letters. in the last,   city name is being used, 'london', which will also be written in capital letters. so option b is the most appropriate one.

b. condominum i think