The City of Meringen operates a central garage through an internal service fund to provide garage space and repairs for all city-owned and operated vehicles. The central garage fund was established by a contribution of $200,000 from the general fund, when the building was acquired several years ago. The postclosing trail balance at June 30, 2014, was as follows: Debit Credit Cash $ 150,000 Due from general fund $ 20,000 Inventory of materials and supplies $ 80,000 Land $ 60,000 Building $ 200,000 Accumulated depreciation-building $ 10,000 Machinery and equipment $ 56,000 Accumulated depreciation-machinery $ 12,000 and equipment $ 38,000 Vouchers payable $ 200,000 Contribution from general fund $ 306,000 Net position $ 566,000 $ 566,000 The following information applies to the fiscal year ended June 30, 2015. 1. Materials and supplies were purchased on account for $74,000 2. The inventory of materials and supplies at June 30, 2015, was $58,000, which agreed with the physical count taken. 3. Salaries and wages paid to employees totaled $230,000, including related costs. 4. A billing was received from the enterprise fund for utility charges totaling $30,000, and it was paid. 5. Depreciation of the building was recorded in the amount of $5,000. Depreciation of the machinery and equipment totaled $8,000. 6. Billings to other department for services rendered to them were as follows: General Fund $262,000 Water and sewer fund $84,000 Special revenue fund $32,000 7. Unpaid interfund receivable balances at June 30, 2015, were as follows: General fund $6,000 Special Revenue Fund $16,000 8. Vouchers payable at June 30, 2015, were $14,000 1. For the period July 1, 2014, through June 30, 2015, prpeare journal entries to record all the tranasctions in the central garage fund accounts.
The City of Meringen operates a central garage through an internal service fund to provide garage space and repairs for all city-owned and operated vehicles. The central garage fund was established by a contribution of $200,000 from the general fund, when the building was acquired several years ago. The postclosing trail balance at June 30, 2014, was as follows:
| Debit | Credit | |
| Cash | $ 150,000 | |
| Due from general fund | $ 20,000 | |
| Inventory of materials and supplies | $ 80,000 | |
| Land | $ 60,000 | |
| Building | $ 200,000 | |
| $ 10,000 | ||
| Machinery and equipment | $ 56,000 | |
| Accumulated depreciation-machinery | $ 12,000 | |
| and equipment | $ 38,000 | |
| Vouchers payable | $ 200,000 | |
| Contribution from general fund | $ 306,000 | |
| Net position | $ 566,000 | $ 566,000 |
The following information applies to the fiscal year ended June 30, 2015.
1. Materials and supplies were purchased on account for $74,000
2. The inventory of materials and supplies at June 30, 2015, was $58,000, which agreed with the physical count taken.
3. Salaries and wages paid to employees totaled $230,000, including related costs.
4. A billing was received from the enterprise fund for utility charges totaling $30,000, and it was paid.
5. Depreciation of the building was recorded in the amount of $5,000. Depreciation of the machinery and equipment totaled $8,000.
6. Billings to other department for services rendered to them were as follows:
General Fund $262,000
Water and sewer fund $84,000
Special revenue fund $32,000
7. Unpaid interfund receivable balances at June 30, 2015, were as follows:
General fund $6,000
Special Revenue Fund $16,000
8. Vouchers payable at June 30, 2015, were $14,000
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1. For the period July 1, 2014, through June 30, 2015, prpeare
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