Please show all work. The following information is available for the preparation

Question

Please show all work.

The following information is available for the preparation of the government-wide financial statements for the city of Southern Springs as of April 30, 2017 $ 3,850,000 880,000 650,000 1,330,000 520,000 10,600,000 11,350,000 650,000 659,000 5,450,000 3,210,000 5,150,000 8.140,000 754,000 223,000 Cash and cash equivalents, governmental activities Cash and cash equivalents, business-type activities Receivables, govemmental activities Receivables, business-type activities Inventories, business-type activities Capital assets, net, governmental activities Capital assets, net, business-type 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 From the preceding information, prepare, in good form, a Statement of Net Position for the city of Southern Springs as of April 30, 2017. Calculate and include the unrestricted net position Include a total column

Explanation / Answer

City of Southern Springs

Statement of Net Position

as of April 30, 2017

"It will be appreciated if you give your feedback on this answer."

Business Type Activities Governmental Activities Total ASSETS Cash and cash equivalents $880,000 $3,850,000 $4,730,000 Receivables    $1,330,000 $650,000 $1,980,000 Inventories $520,000 $520,000 Capital assets $11,350,000 $10,600,000 $21,950,000 Total $14,080,000 $15,100,000 $29,180,000 LIABILITIES Account payable $659,000 $650,000 $1,309,000 Noncurrent liabilities $3,210,000 $5,450,000 $8,660,000 Total $3,869,000 $6,100,000 $9,969,000 NET ASSETS : Net position, invested in Capital assets    $8,140,000 $5,150,000 $13,290,000 Net position, restricted for debt service $223,000 $754,000 $977,000 Total Net Position $8,363,000 $5,904,000 $14,267,000

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