1. The beginning net position balances are net investment in capital assets, $1,709,800, restricted for renovation...

 

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1. The beginning net position balances are net investment in capital assets, $1,709,800, restricted for renovation of the check-in stand, $50,000, and unrestricted, $354,692. 2. Net Income for the year was $207,190. 3. Depreciation expense totaled $69,500. 4. A piece of equipment with a carrying value of $25,000 was sold for $22.500. 5. Bonds for $500,000 were issued to construct a new pro shop. At the end of the year, the shop was partially complete, and construction work in progress totaled $302.000. 6. A $12.000 principal payment was made on a lease obligation. 7. A new golf ball retrieving machine was purchased for $125,000. At the end of the year, a $40,000 note associated with the machine remains outstanding. 8. The check-in stand was completed for $52.000 of construction costs incurred this year. Required Prepare the net position section of Mashpee's statement of net position. TOWN OF MASHPEE Golf Enterprise Fund Partial Statement of Net Position As of year End Net Position Not Position-Net Investment in Capital Assets Not Position Restricted Not Position-Unrestricted Total Not Position S 0 1. The beginning net position balances are net investment in capital assets, $1,709,800, restricted for renovation of the check-in stand, $50,000, and unrestricted, $354,692. 2. Net Income for the year was $207,190. 3. Depreciation expense totaled $69,500. 4. A piece of equipment with a carrying value of $25,000 was sold for $22.500. 5. Bonds for $500,000 were issued to construct a new pro shop. At the end of the year, the shop was partially complete, and construction work in progress totaled $302.000. 6. A $12.000 principal payment was made on a lease obligation. 7. A new golf ball retrieving machine was purchased for $125,000. At the end of the year, a $40,000 note associated with the machine remains outstanding. 8. The check-in stand was completed for $52.000 of construction costs incurred this year. Required Prepare the net position section of Mashpee's statement of net position. TOWN OF MASHPEE Golf Enterprise Fund Partial Statement of Net Position As of year End Net Position Not Position-Net Investment in Capital Assets Not Position Restricted Not Position-Unrestricted Total Not Position S 0

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Based on the computations provided the partial balance sheet for the Village of ... View the full answer