Assume the following date for Water and Sewer Enterprise Fund after preliminary closing entries have...
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Accounting
Assume the following date for Water and Sewer Enterprise Fund after preliminary closing entries have been prepared. The CFO asks your assistance in allocating the assets and liabilities to the appropriate categories.
Additional information:
· The bonds were issued 5 years ago to construct a water purification system
· The restricted cash is from a grant that is restricted for environmental impact testing related to rerouting the drainage from several local streams. The city has met eligibility, but the testing has not begun yet.
Account
Debit Amount
Credit Amount
Current assets
$100
Restricted Assets
50
Plant Assets
1,000
Accumulated Depreciation
$300
Allowance for uncollectible customer accounts
30
Current Liabilities
40
Capital lease payable
100
Bonds payable
400
What is the total Unrestricted Net Position Amount?
What is the total Restricted Net Position Amount?
What is the total Net Investment In Capital Assets Net Position Amount?
Assume the following date for Water and Sewer Enterprise Fund after preliminary closing entries have been prepared. The CFO asks your assistance in allocating the assets and liabilities to the appropriate categories.
Additional information:
· The bonds were issued 5 years ago to construct a water purification system
· The restricted cash is from a grant that is restricted for environmental impact testing related to rerouting the drainage from several local streams. The city has met eligibility, but the testing has not begun yet.
Account | Debit Amount | Credit Amount |
Current assets | $100 |
|
Restricted Assets | 50 |
|
Plant Assets | 1,000 |
|
Accumulated Depreciation |
| $300 |
Allowance for uncollectible customer accounts |
| 30 |
Current Liabilities |
| 40 |
Capital lease payable |
| 100 |
Bonds payable |
| 400 |
What is the total Unrestricted Net Position Amount?
What is the total Restricted Net Position Amount?
What is the total Net Investment In Capital Assets Net Position Amount?
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