ACC - Southern State University
Question # 00056983
Posted By:
Updated on: 03/25/2015 12:10 AM Due on: 03/25/2015
Southern State University had the following account balances as of June 30, 2015 Debits are not distinguished from credits, so assume all accounts have a "normal" balance.
Accounts Receivable $354,000
Accounts Payable $265,000
Cash and Cash Equivalents $120,000
Accrued Interest Payable $225,000
Endowment Investments $6,126,000
General Obligation bonds payable (related to capital acquisition) $1,350,000
Inventories $333,000
Short-Term Investments - unrestricted $1,444,000
Net Positions - Restricted - Nonexpendable $6,126,000
Restricted cash and cash equivalants $92,000
Capital Assets, net of depreciation $7,223,000
Revenue bonds payable (related to capital acquisition) $2,200,000
Long term investments $1,683,000
Long term liabilities - current portion (related to capital acquisition) $200,000
Net position - restricted-expendable $1,900,000
Net investment in capital assets ?
Net positions - unrestricted ?
Accounts Receivable $354,000
Accounts Payable $265,000
Cash and Cash Equivalents $120,000
Accrued Interest Payable $225,000
Endowment Investments $6,126,000
General Obligation bonds payable (related to capital acquisition) $1,350,000
Inventories $333,000
Short-Term Investments - unrestricted $1,444,000
Net Positions - Restricted - Nonexpendable $6,126,000
Restricted cash and cash equivalants $92,000
Capital Assets, net of depreciation $7,223,000
Revenue bonds payable (related to capital acquisition) $2,200,000
Long term investments $1,683,000
Long term liabilities - current portion (related to capital acquisition) $200,000
Net position - restricted-expendable $1,900,000
Net investment in capital assets ?
Net positions - unrestricted ?
-
Rating:
/5
Solution: ACC - Southern State University (Solution)