Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

4 ) You also want to check what percentage of net positions is not restricted to specific purposes or programs. Calculate the percentage of unrestricted

4) You also want to check what percentage of net positions is not restricted to specific purposes or programs. Calculate the percentage of unrestricted net position out of the total net position. What does the number mean? (Hint: numbers in parentheses indicate deficit.) NET POSITION (DEFICIT)
Net investment in capital assets 1,048,2664,209,697(688,333)4,569,6304
Restricted for:
Capital projects 707,036597,8681,304,904
Debt service 218,414809,0371,027,451
Housing programs 585,646585,646
Fire and Rescue 59,76659,766
Transportation 77,35877,358
Public Library 23,43923,439
Community and Social Development 17,33017,330
Environmentally Endangered Lands 24,27324,273
Stormwater Utility 50,99350,993
Other purposes (expendable)277,615244,795522,4101,63419,355
Other purposes (nonexpendable)3,2603,260
Unrestricted (deficit)(5,106,150)(139,584)688,333(4,557,401)36,5664,042
Total net position (deficit) $ (2,012,754) $ 5,721,813 $ 3,709,059 $ 38,204 $ 23,397

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Modern Internal Auditing An Operational Approach

Authors: Victor Zinn Brink

3rd Edition

0471065242, 978-0471065241

More Books

Students also viewed these Accounting questions