143.The Village of Canandaigua determined that, as of July 1, 2014, infrastructure assets estimated at $375 million were in place, with an estimated useful life of 25 years. During the year ended June...

143.The Village of Canandaigua determined that, as of July 1, 2014, infrastructure assets estimated at $375 million were in place, with an estimated useful life of 25 years. During the year ended June 30, 2015, expenditures were $9 million for the routine maintenance of infrastructure, $3 million to extend the life of existing infrastructure, and $15 million for infrastructure additions and improvements.

Required:

a) If the modified approach is used, what would be the amount charged to expense during the fiscal year ended June 30, 2015. What amount would be capitalized?

b) What amount would have been charged to expense if the modified approach were
not
used? What amount would be capitalized?

144.The following information is available for the preparation of the government-wide financial statements for the City of Fishersville for the year ended June 30, 2015:

Required: From the information given above, prepare, in good form, a Statement of Activities for the City of Fishersville for the year ended June 30, 2015. Fishersville has no component units.