Reference no: EM132781327
The following facts pertain to an Enterprise Fund of a city during its fiscal year-end:
Outstanding bonds issued to provide funding for capital projects $5,000.000
Customer service revenue for utility services provided this year $20,000,000
Annual transfer to General Fund $500,000
Capital bond proceeds not yet spent for capital projects $2,000,000
Current year payroll expenditures $4,500,000
Interest earnings on investments $200,000
Acquisition value of land donated by another government $1,500,000
Net book value of all remaining fund capital assets $3,000,000
Outstanding bonds issued to pay for clean energy research $1,500,000
Problem 1: Based on this information, the total of this fund's Net Investment in Capital Assets is
a. $1,500,000
b. $17,000,000
c. $9,000,000
d. $0