Accounting Assignment | College Homework Help

  1. Eastern State University, a public university, had the following account balances as of June 30, 2017. 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 535,000
Accounts receivable (net) 435,000
Capital assets, net of depreciation 7,410,000
Cash and cash equivalents 215,000
Cash and cash equivalents – restricted (noncurrent) 240,000
Deferred revenue-current 325,000
General obligation bonds payable – current portion (related to capital acquisition) 390,000
General obligation bonds payable (related to capital acquisition) 2,500,000
Inventories 700,000
Investments – Endowment 4,200,000
Investments Long-term 1,500,000
Investments Short-term -unrestricted 900,000
Net Position-restricted-expendable 1,300,000
Net Position-restricted-nonexpendable 4,440,000
Revenue bonds payable (related to capital acquisition) 2,900,000
Net Position ?

Required: Prepare, in good form, a Statement of Net Position for Eastern State University as of June 30, 2017.

Eastern State University
Statement of Net Position
Current Assets:
Cash and cash equivalents
Total current assets
Non-current assets:
Restricted Cash and Cash Equivalents
Total non-current assets
Total assets
Current Liabilities:
Accounts payable
Total current liabilities
Non-current liabilities:
Total non-current liabilities
Total liabilities
Total net position
Total liabilities and net position

Get Accounting homework help today

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?