Prepare a statement of net assets for the city of franklin

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Question - From the following information, prepare a statement of net assets for the city of Franklin as of June 30, 20X3:

Cash and Cash equivalents, Governmental $ 500,000

Cash and Cash equivalents, Business Activities 300,000

Receivables, net, Governmental 280,000

Inventories, Business Activities 135,000

Capital Assets, net, Governmental 1,330,000

Capital Assets, net, Business Activities 750,000

Accounts Payable, Governmental 158,000

Accounts Payable, Business Activities 96,000

Noncurrent liabilities, Governmental 1,005,000

Noncurrent liabilities, Business Activities 585,000

Net Assets invested in Capital Assets (net of Debt)

Governmental

733,000

Business activities 465,000

Net Assets Restricted:

Governmental

132,000

Business Activities 93,000

Net Assets Unrestricted:

Governmental 82,000

Business Activities (54,000)

Reference no: EM131819941

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