The postclosing trial balance for the Village of Alantown general fund at June 30, 2011, shows the following ledger account balances:
Debits
Cash......................... $410,000
Investments..................... 300,000
Tax receivable—delinquent............. 150,000
Accounts receivable................ 30,000
Supplies inventory.................. 60,000
Total debits................................................... $950,000
Credits
Allowances for uncollectible taxes—delinquent....... $ 10,000
Vouchers payable................... 140,000
Deferred revenue.................... 40,000
Note payable (short-term)................ 150,000
Fund balance—committed............... 90,000
Fund balance—unassigned................. 520,000
Total credits...................... $950,000
ADDITIONAL INFORMATION
1. The village owns general fixed assets with a historical cost of $100,000 and accumulated depreciation totaling $65,000.
2. General long-term debt recorded in the internal debt records is $100,000. This was recorded as an other financing source in the general fund.
3. A capital lease payable in the amount of $75,000 is noted in the internal debt records. This was recorded as an other financing source in the general fund.
4. Revenues reported as deferred on the fund balance sheet using the 60-day criteria are recognized as revenue in the government-wide statement.
REQUIRED
Determine the village’s general fund net assets that will appear on the government-wide statement of net assets.