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	$	580,000
Cash and cash equivalents, business-type activities		1,220,000
Receivables, governmental activities		690,000
Receivables, business-type activities		2,033,000
Inventories, business-type activities		800,000
Capital assets, net, governmental activities		20,763,000
Capital assets, net, business-type activities		10,920,000
Accounts payable, governmental activities		993,000
Accounts payable, business-type activities		859,000
General obligation bonds, governmental activities		11,983,000
Revenue bonds, business-type activities		4,930,000
Long-term liability for compensated absences, governmental activities		556,000

From the preceding information, prepare a Statement of Net Position for the City of Southern Springs as of April 30, 2020. Assume that outstanding bonds were issued to acquire capital assets and restricted assets total $851,000 for governmental activities and $345,000 for business-type activities. (Negative amounts should be indicated by a minus sign)

CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020 Governmental Activities Business-Type Activities Total Assets: Cash and Cash Equivalents $580,000 $1,220,000 $1,800,000 Receivables 690,000 2,033,000 2,723,000 Inventories 0 800,000 800,000 Capital Assets, Net 20,763,000 10,920,000 31,683,000 0 Total Assets 22,033,000 14,973,000 37,006,000 Liabilities: Accounts Payable 993,000 859,000 1,852,000 Bonds Payable 11,983,000 4,930,000 16,913,000 Compensated Absences Payable 556,000 0 556,000 0 Total Liabilities 13,532,000 5,789,000 19,321,000 Net Position: Net Investment in Capital Assets 8,780,000 5,990,000 14,770,000 Restricted 851,000 345,000 1,196,000 Unrestricted 0 0 Total Net Position $9,631,000 $6,335,000 $15,966,000

Can't figure out how to get the "Unrestricted"

Answer 1

Answer:

CITY OF SOUTHERN SPRINGS Statement of Net Position As of April 30, 2020
Particulars	Governmental Activities	Business-Type Activities	Total
Assets:
Cash and Cash Equivalents	580,000	1,220,000	1,800,000
Receivables	690,000	2,033,000	2,723,000
Inventories	0	800,000	800,000
Capital Assets, Net	20,763,000	10,920,000	31,683,000
Total Assets	22,033,000	14,973,000	37,006,000
Liabilities:
Accounts Payable	993,000	859,000	1,852,000
Bonds Payable	11,983,000	4,930,000	16,913,000
Compensated Absences Payable	556,000	0	556,000
Total Liabilities	13,532,000	5,789,000	19,321,000
Net Position:
Net Investment in Capital Assets	8,780,000	5,990,000	14,770,000
Restricted	851,000	345,000	1,196,000
Unrestricted*	-1,130,000	2,849,000	1,719,000
Total Net Position**	8,501,000	9,184,000	17,685,000

*Unrestricted debt service = Total net position at end - Net investment in capital assets - Restricted for Debt Services

**Total net position at end = Total assets - total liabilities