In its Statement of Net Assets,a government reported:
•assets of $90 million,including $30 million in capital assets (net),and
•liabilities of $40 million,including long-term debt of $15 million,all related to capital asset acquisition.
The government also reported $10 million of net assets were restricted for payment of debt service.The government's unrestricted net assets would be reported as:

Question

Quizplus · Accepted Answer

To calculate unrestricted net assets, we need to subtract all the restricted net assets and the net value of capital assets from the total assets, and then subtract all the liabilities related to capital asset acquisition from the result. 
$90 million (Total assets) - $10 million (Restricted net assets) - $30 million (Net value of capital assets) - $15 million (Liabilities related to capital asset acquisition) = $35 million (Unrestricted net assets) 
Therefore, the answer is B) $25 million, the option closest to the calculated unrestricted net assets.

In Its Statement of Net Assets,a Government Reported