In the Thistlewood balances, which amount represents the general capital assets total?

• A. 628,500
• B. 600,000
• C. 527,500
• D. 547,500

Answer: (C)

The general capital assets total reflects the net book value of assets used for general government activities, i.e., capital assets net of accumulated depreciation. To find it, you add up the general capital asset accounts (land, buildings, improvements, infrastructure, equipment) and subtract the related depreciation for those assets. The result is the amount shown as general capital assets, net on the statement of net position. In the Thistlewood balances, the net total comes to 527,500, meaning after accounting for depreciation, the general capital assets total is 527,500. The other figures would represent either gross asset amounts before depreciation or assets from other categories, so they don’t equal the general capital assets total.