In its Statement of Net Position, a government reported:
$\bullet$assets of $110 million, including $30 million in capital assets net), and
$\bullet$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 Position would be reported as:

Question

Quizplus · Accepted Answer

$30 million of net investment in capital assets - $15 million of LT debt = $15 of Net Improvement in Capital Assets. An additional $10 million is restricted for payment of debt service. Net Position is $70 million $110 million of assets - $40 million of liabilities. Unrestricted Net position would be $70 million - $15 million of Net Improvement in Capital Assets - $10 million restricted for debt service = $45 million.

In Its Statement of Net Position, a Government Reported ∙\bullet∙ Assets of $110 Million, Including $30 Million in Capital Assets

In Its Statement of Net Position, a Government Reported $\bullet$ Assets of $110 Million, Including $30 Million in Capital Assets