Please no hand-writing and photo
a-What is a Not-For-Profit Organization (NFPO)? Explain in detail the categories of NFPO.
b- (Preparation of government-wide financial statements - capital asset elements)
The following information is extracted from the City of Jeddah’ government-wide statement of net position at December 31, 2018: Capital assets 3,000,000 Accumulated depreciation, capital assets 1,600,000 Annual depreciation rate on capital assets 10 % Bonds payable -0- The following information is extracted from the city's governmental funds statement of revenues, expenditures, and changes in fund balances for the year ended December 31, 2018. Expenditures - bond principal (Debt Service Fund) 60,000 Proceeds of debt (Capital Projects Fund) 600,000 Required: a. Prepare journal entries so the foregoing information can be used in a work sheet to prepare government-wide financial statements for the year ended December 31, 2018.