Business, 22.11.2019 22:31 bustillojoshua4

The village of shelburne operates a nine-hole golf course as an enterprise fund. you are provided with the following information for the current year: net income for the year was $161,511. the beginning net position balances are net investment in capital assets, $585,400; restricted, $5,000; and unrestricted, $254,790. new golf carts were leased. the present value of the lease liability is $200,000. a principal payment of $40,000 was made during the year, and amortization of the leased asset totaled $37,500. lawn edging equipment with a carrying value of $6,100 was sold for $6,300. a new lawn mower was purchased for $75,000. at the end of the year, a $25,000 note associated with the machine remains outstanding. depreciation of the mower was $7,500. additional depreciation totaled $30,000.
required
prepare the net position section of shelburne’s statement of net position.
net position:
net position - net investment in capital assets:
net position - restricted:
net position - unrestricted:
total net position:

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The village of shelburne operates a nine-hole golf course as an enterprise fund. you are provided wi...

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