Question

The following information is available for the preparation of the government-wide financial statements for the City of Southern Springs as of April 30, 2020 Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, governmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type activities Accounts payable, governmental activities Accounts payable, business-type activities Noncurrent liabilities, governmental activities Noncurrent liabilities, business-type activities Net position, net Investment in capital assets, governmental activities Net position, net investment in capital assets, business-type activities Net position, restricted for debt service, governmental activities Net position, restricted for debt service, business-type activities $ 3,600,000 811,000 602.09 1,223,000 484,000 9,773,000 10,458,000 603,000 612,000 5,076,000 3,026,000 4,787,000 7.522.000 699.00 213,000 From the above information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. (Calculate and include the unrestricted net position.) CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020

Answer 1

City of Southern Springs Statement of Net Positiion As at 30.4.2020 Governmental Business Type Activities Activities Total 3600000 Assets: Cash and Cash Equivalents Inventories Receivables Capital Assets, Net 811000 4411000 484000 484000 1223000 1825000 1045800020231000 602000 9773000 13975000 12976000 26951000 Total Assets Liabilities: Accounts Payable Non Current Liabilities 603000 5076000 612000 3026000 1215000 8102000 5679000 3638000 9317000 Total Liabilities Net Position: Net Investment in Capital Assets Restricted for Debt Service Unrestricted 4787000 699000 2810000 7522000 213000 1603000 12309000 912000 4413000 Total Net Position 8296000 9338000 17634000