Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits Credits $ 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 40,000 4,000 119,000 625,000 18,000 $1,479,000 $1,479,000 Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of the December 31 Statement of Cash Flows. Recall that the beginning balance of all assets and liabilities is zero. (Deductions should be entered as a negative amount.) Adjustments: VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the Year Ended December 31, 2020 Net Cash Provided (Used) by Operating Activities 0
Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Debits Credits $ 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 40,000 4,000 119,000 625,000 18,000 $1,479,000 $1,479,000 Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of the December 31 Statement of Cash Flows. Recall that the beginning balance of all assets and liabilities is zero. (Deductions should be entered as a negative amount.) Adjustments: VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the Year Ended December 31, 2020 Net Cash Provided (Used) by Operating Activities 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below.]
The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of
its fiscal year. The enterprise fund was established this year through a transfer from the General Fund.
Accounts payable
Accounts receivable
Accrued interest payable
Accumulated depreciation
Administrative and selling expenses
Allowance for uncollectible accounts
Capital assets
Cash
Charges for sales and services
Cost of sales and services
Depreciation expense
Due from General Fund
Interest expense
Interest revenue
Transfer in from General Fund
Bank note payable
Supplies inventory
Totals
Debits
Credits
$
96,000
$
32,000
28,000
45,000
47,000
12,000
712,000
89,000
550,000
479,000
45,000
17,000
40,000
4,000
119,000
625,000
18,000
$1,479,000 $1,479,000
Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of the
December 31 Statement of Cash Flows. Recall that the beginning balance of all assets and liabilities is zero. (Deductions should be
entered as a negative amount.)
Adjustments:
VILLAGE OF SEASIDE PINES
ENTERPRISE FUND
Reconciliation of Operating Income to
Net Cash Provided by Operating Activities
For the Year Ended December 31, 2020
Net Cash Provided (Used) by Operating Activities
0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F42f5cb52-099a-46c8-974b-0c2ed5936d6c%2F7e0ac1e6-69bf-41d5-9d3a-bcde946c10ce%2Fzxl6zdo_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of
its fiscal year. The enterprise fund was established this year through a transfer from the General Fund.
Accounts payable
Accounts receivable
Accrued interest payable
Accumulated depreciation
Administrative and selling expenses
Allowance for uncollectible accounts
Capital assets
Cash
Charges for sales and services
Cost of sales and services
Depreciation expense
Due from General Fund
Interest expense
Interest revenue
Transfer in from General Fund
Bank note payable
Supplies inventory
Totals
Debits
Credits
$
96,000
$
32,000
28,000
45,000
47,000
12,000
712,000
89,000
550,000
479,000
45,000
17,000
40,000
4,000
119,000
625,000
18,000
$1,479,000 $1,479,000
Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of the
December 31 Statement of Cash Flows. Recall that the beginning balance of all assets and liabilities is zero. (Deductions should be
entered as a negative amount.)
Adjustments:
VILLAGE OF SEASIDE PINES
ENTERPRISE FUND
Reconciliation of Operating Income to
Net Cash Provided by Operating Activities
For the Year Ended December 31, 2020
Net Cash Provided (Used) by Operating Activities
0
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