Prepare statement of net position for the water utility fund

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Reference no: EM133417027

Question: Following is the June 30, 2022, statement of net position for the City of Bay Lake Water Utility Fund. CITY OF BAY LAKE Water Utility Fund Statement of Fund Net Position June 30, 2022 Assets Current assets: Cash and investments $ 1,775,704 Accounts receivable (net of $13,372 provision for uncollectible accounts) 306,984 Accrued utility revenue 500,100 Due from General Fund 29,317 Interest receivable 82,017 Total current assets 2,694,122 Restricted assets: Cash 9,197 Capital assets: Land $ 1,781,721 Buildings (net of $3,421,492 in accumulated depreciation) 5,216,683 Machinery and equipment (net of $5,132,168 in accumulated depreciation) 8,492,103 Total capital assets (net) 15,490,507 Total Assets 18,193,826 Liabilities Current liabilities: Accounts payable 532,271 Interest payable 131,828 Current portion of long-term debt 404,000 Total current liabilities 1,068,099 Liabilities payable from restricted assets: Customer deposits 9,197 Long-term liabilities: Revenue bond payable 11,716,000 Total Liabilities 12,793,296 Net Position Net investment in capital assets 3,376,100 Unrestricted 2,024,430 $ 5,400,530 Following is the information of the Water Utility Fund for fiscal year 2023. The amount in the Accrued Utility Revenue account was reversed. Billings to customers for water usage during fiscal year 2023 totaled $2,921,644; $189,907 of the total was billed to the General Fund. Cash in the amount

Prepare a statement of net position for the Water Utility Fund as of June 30, 2023.

Reference no: EM133417027

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