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The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of Dec its fiscal year. The enterprise fund was established this year through a transfer from the Gen 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 Debits $ 31,400 55,000 730,000 99,200 508.000 Credits $ 116,000 34,600 53,000 13,800 577,000

The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of Dec its fiscal year. The enterprise fund was established this year through a transfer from the Gen 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 Debits $ 31,400 55,000 730,000 99,200 508.000 Credits $ 116,000 34,600 53,000 13,800 577,000

FINANCIAL ACCOUNTING
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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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 $ 31,400 55,000 730,000 99,200 508,000 53,000 18,100 41,300 20,500 $1,556,500 Credits $ 116,000 34,600 53,000 13,800 577,000 5,400 127,400 629,300 $1,556,500 Exercise 6-5 (Algo) 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.)
Transcribed Image Text: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 $ 31,400 55,000 730,000 99,200 508,000 53,000 18,100 41,300 20,500 $1,556,500 Credits $ 116,000 34,600 53,000 13,800 577,000 5,400 127,400 629,300 $1,556,500 Exercise 6-5 (Algo) 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.)
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