Question
United State University, a public university, had the following account balances as of June 30, 2020. Accounts payable 48,000 Accounts receivable (net) 165,000 Student tuition
United State University, a public university, had the following account balances as of June 30, 2020.
Accounts payable 48,000
Accounts receivable (net) 165,000
Student tuition and fees 5,900,000
Capital assets, net of depreciation 9,800,000
Cash and cash equivalents 157,000
Cash and cash equivalents restricted (noncurrent) 343,000
Deferred revenue-current 50,000
General obligation bonds payable - current portion (related to capital acquisition) 120,000
General obligation bonds payable (related to capital acquisition) 1,200,000
Inventories 60,000
Investments - Endowment 800,000
Investments Long-term 650,000
Investments Short-term -unrestricted 70,000
Federal and State Grants 530,000
Net Position-restricted-expendable 700,000
Net Position-restricted-nonexpendable 840,000
Revenue bonds payable (related to capital acquisition) 2,800,000
Net Position ????????
Prepare, in good form, a Statement of Net Position for United State University as of June 30, 2020.
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