Answer:
Explanation:
a) For total net position :
Particulars Amount
total net assets
revenue from rentals $ 800,000.00
personal service expense $ 380,000.00
Utilities expense $ 63,000.00
repairs and maintenace respense $ 47,000.00
depreciation expense-equipment $ 15,000.00
depreciation expense-building $ 50,000.00
interest expense $ 40,030.00
uncollectible accounts expense $ 5,000.00
supplies expense $ 1,000.00 $ 601,030.00
increase in net assets $ 198,970.00
add net assets in beginning of the yr $ 940,740.00
Total ending net assets $ 1,139,710.00
b) net investment in capital assets, net of related debt:
Particulars Amount
Net capital assests $ 900,000.00
land $ 325,000.00
equipment $ 1,500,000.00
accumulated depreciation-equipment $ 105,000.00
accumulated depreciation-buildings $ 650,000.00 $ 1,970,000.00
less revenues bonds payable $ 1,000,000.00
net assets invested in capital assets, net of related debt $ 970,000.00
c) For restricted net position
Particulars Amount
Restricted assets
cash restricted fordebt service $ 150,000.00
cash restricted for customer deposit $ 23,000.00 $ 173,000.00
liabilities payable from restricted assets
customers deposits payable $ 23,000.00
restricted net assets $ 150,000.00
d) For unrestricted net position
Particulars Amount
net assets, unrestricted
total nets assets, end of year $ 1, 139,710.00
less net assets invested in capital assets, net of related $ 970,000.00
less net assets, restricted $ 150,000.00
Net assets, unrestricted $ 19,710.00
