Requlred InformatlonRivMera Townshlp reported the following data for Its governmental activitles for the year ended June 30, 20X9:2 of 3ItemAmountCash and cash equivalents$1,000,000300,0008,500,0001,200,000400,0004,800,000ReceivablesCapital assetsAccumulated depreciationAccounts payable01:56:09Long-term liabilitiesAdditlonal Information avalable is as follows:All of the long-term debt was used to acquire capital assets. Cash of $475,000 Is restricted for debt service.Based on the preceding Informatlon, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for net assets Invested In capital assets, net of related debt?Multiple Cholce$3.300,000$2.900,000$2,825,000$4.200,000 1Requlred InformatlonRivlera Townshlp reported the following data for Its governmental activitles for the year ended June 30, 20X9:ItemАmount$1,000,000300,0008,500,0001,200,000400,0004,000,000Part 1 of 3Cash and cash equivalentsReceivablesCapital assetsAccumulated depreciationAccounts payableLong-term liabilities01:56:17Additional Information avallable Is as follows:All of the long-term debt was used to acquire capltal assets. Cash of $475,000 Is restricted for debt service.Based on the preceding Information, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for total net assets?Multiple Cholce$4,200,000$3.625.000$2,900,000O $2,425,000

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Requlred Information RMera Township reported the following data for Its governmental activities for the year ended June 30, 20X9: Iten Amount Cash and cash equivalents $1,000,eee 300, e00 8,500,000 1,200, eee 400,000 4,e0e,eee Receivables Capital assets Accumulated depreciation Accounts payable Long-term liabilities Additional Information available Is as follows: All of the long-term debt was used to acquire capital assets. Cash of $475,000 is restricted for debt service. Based on the preceding Information, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for net assets Invested in capital assets, net of related debtr Multiple Cholce $3,300,000 $2,900,000 $2,825,000 $4.200,000

Requlred Information RMera Township reported the following data for Its governmental activities for the year ended June 30, 20X9: Iten Amount Cash and cash equivalents $1,000,eee 300, e00 8,500,000 1,200, eee 400,000 4,e0e,eee Receivables Capital assets Accumulated depreciation Accounts payable Long-term liabilities Additional Information available Is as follows: All of the long-term debt was used to acquire capital assets. Cash of $475,000 is restricted for debt service. Based on the preceding Information, on the statement of net assets prepared at June 30, 20X9, what amount should be reported for net assets Invested in capital assets, net of related debtr Multiple Cholce $3,300,000 $2,900,000 $2,825,000 $4.200,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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