40. Using simple math, the Water Utility Fund of Eugene, Oregon has the following subtotals on its December 31, 2019 Statement of Net Position: Total Current and Accrued Assets, $2,000; Total Restricted Assets, $1,050; Net Utility Plant, $10,500; Other Assets, $60; Total Current Liabilities, $800; Liabilities payable from restricted assets, $250; and Long-term Liabilities, $7,900. How much would be the net position-Unrestricted? A. $1,200. B. $1,260. C. $950. D. $2,000.

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Lee

Business

12 June, 05:48

40. Using simple math, the Water Utility Fund of Eugene, Oregon has the following subtotals on its December 31, 2019 Statement of Net Position: Total Current and Accrued Assets, $2,000; Total Restricted Assets, $1,050; Net Utility Plant, $10,500; Other Assets, $60; Total Current Liabilities, $800; Liabilities payable from restricted assets, $250; and Long-term Liabilities, $7,900. How much would be the net position-Unrestricted? A. $1,200. B. $1,260. C. $950. D. $2,000.

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Answers (1)

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Keagan Hebert · Answer 1

B. $1,260

Explanation:

The computation of the net position unrestricted is shown below

Unrestricted Net Position is

= Total Current and accrued Assets + Other assets - current liabilities

= $2,000 + $60 - $800

= $1,260

We simply added the other assets and deduct the current liabilities to the total current and accrued assets so that the amount could come in a correct way

Therefore all other information that is not considered is irrelevant. Hence, ignored it