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What amount should be reported on enterprise fund statement

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Problem 1: A city's Enterprise Fund received $3,000,000 cash in the form of a capital grant during the fiscal year ended June 30, 20X3. The Enterprise Fund incurred and paid construction costs from that grant in the amount of $1,200,000. What amount should be reported on the Enterprise Fund Statement of Net Position as net investment in capital assets?

A. $0
B. $1,200,000
C. $1,800,000
D. $3,000,000

Reference no: EM132779568

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