(Computation of Net Investment in Capital Assets)
the Following Information

question 5

Essay

(Computation of net investment in capital assets)
The following information is taken from the financial statements of Corwin Water District 2,an Enterprise Fund.The revenue bonds were issued to construct water mains.Based on these data,compute the amount that the Fund should report on its statement of net position,as net investment in capital assets. $\begin{array}{lr}\text { Buildings } & \$ 1,100,000 \\\text { Water mains and equipment } & 5,200,000\\\text { Accumulated depreciation, capital assets } & 2,300,000 \\\text { Current portion of revenue bonds payable } & 450,000 \\\text { Long-term portion of revenue bonds payable } & 1,800,000\end{array}$