Presented on the following page is the adjusted trial balance for the Water Enterprise Fund of the City of Whitt at December 31, 2013, the end of the fiscal year. Based on this information,
a.	prepare the entry necessary to close the accounts
b.	compute the ending balances for (1) net investment in capital assets, (2) restricted net position, and (3) unrestricted net position
	(Note: Debt related to the capital assets consists solely of the revenue bonds payable.)
	City of Whitt
	Water Enterprise Fund
	Adjusted Trial Balance
	31-Dec-13
		DR	CR
	Cash and cash equivalents	$890,430
	Cash, restricted	47,500
	Investments	2,037,000
	Due from other funds	595,000
	Land	976,000
	Machinery and equipment	2,264,000
	Accumulated depreciation, machinery and equipment		$1,840,000
	Buildings	2,058,000
	Accumulated depreciation, buildings		933,000
	Accounts payable		398,250
	Revenue bonds payable, current portion		50,000
	Revenue bonds payable, noncurrent portion		1,650,000
	Net position		4,087,000
	Revenues - charges for services		3,608,000
	Revenues - other		31,520
	Operating expenses - purchase of water	2,389,000
	Operating expenses - materials and supplies	276,000
	Operating expenses - personal services	827,195
	Operating expenses - depreciation	253,000
	Nonoperating revenues - investment revenues		29,680
	Nonoperating expenses - interest	14,325
		$12,627,450	$12,627,450
a.	Closing Entry
		DR	CR
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		0	0
b.
	Total net position at December 31, 2013 = $4,087,000 - $90,320 =		$3,996,680
1)	Net investment in capital assets =
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	Select One:	$ -
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	Select One:	$ -
2)	Restricted net position =
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3)	Unrestricted net position =
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	Select One:	$ -