In its government-wide Statement of Net Position, a government reported assets of $165 million, including $70 million in capital assets net of depreciation), and liabilities of $80 million, including long-term debt of $60 million, $50 million of which was issued to acquire capital assets. In addition, $30 million was restricted for debt service and other purposes. The government's Unrestricted Net Position would be reported as:

Question

Quizplus · Accepted Answer

Unrestricted capital assets of $95,000,000 $165,000,000-$70,000,000 - long term debt not used to acquire assets of $30,000,000 $80,000,000-$50,000,000 - amount restricted for debt service and other purposes of $30,000,000 = $35,000,000.

In Its Government-Wide Statement of Net Position, a Government Reported