ambers File Edit Insert Table Format Arrange View Share Window Help Chp 7 Bonus Net Position 2) D 125% Formula Table Chart Text Shape Media Comment Net Position City of Marlboro Enterprise Fund Pre-Closing Trial Balance 12/31/19 317.500 217100 4,050 600,000 1.650,000 1.340.4001 755.640 Cash Customer Accounts Receivable Allowance for Doubtful Accounts Due from Other Funds Inventories Land Buildings Accumulated Depreciation Buildings Equipment Accumulated Depreciation Equipment Vouchers Payable Due to Other Funds Accrued Payroll and Fringe Benefits Accrued Interest Payable Accrued Liability Estimated Closure/Postclosure Costs Revenue Anticipation Notes Current Revenue Anticipation Notes Long term Net Position Net Investment in Capital Assets Net Position Unrestricted Charges for Services Payroll and Fringe Benefits Expense Materials and Supplies Expense Depreciation Expense Provision for Closure and Postclosure costs Provision for Doubtful Accounts Interest Forense 2.500 324,000 50.000 30.000 1.888.800 84.290 2.268 960 1.162.690 145.290 120.000 3060 2.500 6,355,480 Prepare closing entry 12/31/19, closing all accounts to Net Position-Unrestricted: MacBook Air ors File Edit Insert Table Format Arrange View Share Window Help Chp 7 Bonus Net Position[2] D View 125% Zoom fxT Formula Table Chart Te Shape Media Commer Net Position Prepare closing entry 12/31/19, closing all necounts to Net Position-Unrestricted: Required: Adjust Net Position Accounts as necessary on Page 2 Step 1: Compute the balance in Net Position-Unrestricted after the closing entry that you made. Beginning of year Net Position-Unrestricted per trial balance Excess of Revenues over Expenses per closing entry made Current balance in Net Position-Unrestricted Step 2: Compute the final balance in Net Position-Net Investment in Capital Assets. List Capital Assets and related liabilities (revenue anticipation notes) per trial balance shown above, including related accumulated depreciation (drare positive, credits are negative) Dr. ) MacBook Air 2009 File Edit Insert Table Format Arrange View Share Window Help Chp 7 Bonus Net Position(2) al T 1 Chart Text Shape Media Comment D 125% GO TODO fx Formula Table Net Position Step 3: Prepare the journal entry to reclassify per Step 2 computation Step 4: Compute final ending Balance in Net Position-Unrestricted Balance above after closing entry (after Step 1) Adjustment per reclass entry (Step 2) Ending balance, post-closing, Net Position-Unrestricted Step 5: Swarise total Net Position should have compared these amounts above) Net Position - Net Investment in Capital Assets (Computed in Step 2) Net Position - Unrestricted (Computed in Steps 1 and 4) Total Net Position 12/31/19 Post Closing MacBook Air
