The following water and sewer fund information is available for the preparation of the financial statements for the City of Western Sands for the year ended December 31, 2024: Operating revenues-charges for services. Operating expenses: Personnel services. Contractual services. Utilities Repairs and maintenance Depreciation Interest revenue State aid (intergovernmental revenue) Interest expense Capital contributions Transfer to General Fund (noncapital) Net position, January 1, 2024 $18,116,000 6,203,000 3,008,000 899,000 2,003,000 5,434,000 42,000 112,000 441,000 1,644,000 375,000 2,712,000 Required: From the information given above, prepare a Water and Sewer Fund column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2024. Note: Negative entries should be entered with a minus sign and will appear in parenthesis.

The following water and sewer fund information is available for the preparation of the financial statements for the City of Western Sands for the year ended December 31, 2024: Operating revenues-charges for services. Operating expenses: Personnel services. Contractual services. Utilities Repairs and maintenance Depreciation Interest revenue State aid (intergovernmental revenue) Interest expense Capital contributions Transfer to General Fund (noncapital) Net position, January 1, 2024 $18,116,000 6,203,000 3,008,000 899,000 2,003,000 5,434,000 42,000 112,000 441,000 1,644,000 375,000 2,712,000 Required: From the information given above, prepare a Water and Sewer Fund column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2024. Note: Negative entries should be entered with a minus sign and will appear in parenthesis.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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From the information given above, prepare a Water and Sewer Fund column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020. (Deductions should be entered with a minus sign.)
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