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23 April, 14:38

40. Using simple math, the Water Utility Fund of Eugene, Oregon has the following subtotals on its December 31, 2019 Statement of Net Position: Total Current and Accrued Assets, $2,000; Total Restricted Assets, $1,050; Net Utility Plant, $10,500; Other Assets, $60; Total Current Liabilities, $800; Liabilities payable from restricted assets, $250; and Long-term Liabilities, $7,900. How much would be the net position-Unrestricted? A. $1,200. B. $1,260. C. $950. D. $2,000.

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  1. 23 April, 16:47
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    B. $1,260

    Explanation:

    The computation of the net position unrestricted is shown below

    Unrestricted Net Position is

    = Total Current and accrued Assets + Other assets - current liabilities

    = $2,000 + $60 - $800

    = $1,260

    We simply added the other assets and deduct the current liabilities to the total current and accrued assets so that the amount could come in a correct way

    Therefore all other information that is not considered is irrelevant. Hence, ignored it
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