During its calendar year 2012,a city issued $800,000 of bonds to acquire various items of capital equipment.By the end of 2013,the city had spent all the bond proceeds to purchase capital assets.Accumulated depreciation on the assets was $120,000,and $150,000 of the bonds had been paid off.How much should the city report in its government-wide statement of net position as net investment in capital assets?

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The Answer of During its calendar year 2012,a city issued $800,000 of bonds to acquire various items of capital equipment.By the end of 2013,the city had spent all the bond proceeds to purchase capital assets.Accumulated depreciation on the assets was $120,000,and $150,000 of the bonds had been paid off.How much should the city report in its government-wide statement of net position as net investment in capital assets?

During Its Calendar Year 2012,a City Issued $800,000 of Bonds