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Perry County University had the following account balances as of June 30, 2018. Debits are not distinguished from credits, so assume all accounts have a
Perry County University had the following account balances as of June 30, 2018. Debits are not distinguished from credits, so assume all accounts have a normal balance (i.e., cash is a debit and accounts payable a credit).
Accounts payable | 310,000 |
Accounts receivable (net) | 430,000 |
Capital assets, net of depreciation | 6,200,000 |
Cash and cash equivalents | 75,000 |
Cash and cash equivalents restricted (noncurrent) | 100,000 |
Deferred revenue-current | 95,000 |
General obligation bonds payable - current portion (related to capital acquisition) | 390,000 |
General obligation bonds payable (related to capital acquisition) | 1,700,000 |
Inventories | 620,000 |
Investments - Endowment | 3,000,000 |
Investments Long-term | 1,700,000 |
Investments Short-term - unrestricted | 800,000 |
Net position-restricted - expendable | 1,200,000 |
Net position - restricted - nonexpendable | 3,000,000 |
Revenue bonds payable (related to capital acquisition) | 2,000,000 |
Net position - Unrestricted | ???????? |
Required
Prepare, in good form, a Statement of Net Position for Perry County State University as of June 30, 2018.
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