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, 2020: 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 Net position, January 1, 2030 Operating Revenues 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.) Operating Expenses CITY OF WESTERN SANDS Water and Sewer Fund Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2020 Total Operating Expenses Operating Income Nonoperating Revenues (Expenses) $18.226,000 6,315,000 3,030,000 921,000 Total Nonoperating Revenues and Expenses Income (Loss) Before Contributions and Transfers 2,025,000 5,456,000 Change in Nel Position Net Poetion Beginning of Year Net Position, End of Year 64,000 134,000 122,000 1,466,000 386,000 2,734,000
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, 2020: 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 Net position, January 1, 2030 Operating Revenues 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.) Operating Expenses CITY OF WESTERN SANDS Water and Sewer Fund Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2020 Total Operating Expenses Operating Income Nonoperating Revenues (Expenses) $18.226,000 6,315,000 3,030,000 921,000 Total Nonoperating Revenues and Expenses Income (Loss) Before Contributions and Transfers 2,025,000 5,456,000 Change in Nel Position Net Poetion Beginning of Year Net Position, End of Year 64,000 134,000 122,000 1,466,000 386,000 2,734,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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, 2020:
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
Net position, January 1, 2020
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.)
Operating Revenues
CITY OF WESTERN SANDS
Water and Sewer Fund
Statement of Revenues, Expenses, and Changes in Fund Net Position
For the Year Ended December 31, 2020
Operating Expenses
Total Operating Expenses
Operating Income
Nonoperating Revenues (Expenses)
$18,226,000
6,313,000
3,030,000
921,000
2,025,000
5,456,000
Total Nonoperating Revenues and Expenses
income (Loss) Before Contributions and Transfers
64,000
134,000
122,000
1,466,000
386,000
2,734,000
Change in Net Position
Net Position, Beginning of Year
Net Position, End of Year
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