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The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, 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 $ 31,900 Net Cash Provided by Operating Activities For the year ended December 31, 2024 Operating Loss Adjustments: Depreciation Expense Decrease in Accounts Receivable (net) Decrease in Due From Other Funds Decrease in Supplies Inventory Increase in Accounts Payable 55,500 732,000 99,500 Net Cash Provided (Used) by Operating Activities 509,000 53,500 18,200 41,400 Answer is complete but not entirely correct. VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Required: 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. Note: Negative amounts should be entered with a minus sign. S (38,100) 20,700 $ 1,561,700 $ 1,561,700 53,500 S (18,200) (19,200) (23,000) X 117,000 Credits $ 117,000 S 35,100 53,500 80,000 13,900 579,000 6,200 128,500 628,500

The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, 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 $ 31,900 Net Cash Provided by Operating Activities For the year ended December 31, 2024 Operating Loss Adjustments: Depreciation Expense Decrease in Accounts Receivable (net) Decrease in Due From Other Funds Decrease in Supplies Inventory Increase in Accounts Payable 55,500 732,000 99,500 Net Cash Provided (Used) by Operating Activities 509,000 53,500 18,200 41,400 Answer is complete but not entirely correct. VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Required: 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. Note: Negative amounts should be entered with a minus sign. S (38,100) 20,700 $ 1,561,700 $ 1,561,700 53,500 S (18,200) (19,200) (23,000) X 117,000 Credits $ 117,000 S 35,100 53,500 80,000 13,900 579,000 6,200 128,500 628,500

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, 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 Operating Loss Adjustments: Depreciation Expense Decrease in Accounts Receivable (net) Decrease in Due From Other Funds Decrease in Supplies Inventory Increase in Accounts Payable $ 31,900 Net Cash Provided (Used) by Operating Activities 55,500 732,000 99,500 509,000 53,500 18, 200 41,400 Answer is complete but not entirely correct. VILLAGE OF SEA SIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the year ended December 31, 2024 S (38,100) $ Required: 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. Note: Negative amounts should be entered with a minus sign. 53,500 S (18,200) 20,700 $ 1,561,700 $ 1,561,700 Credits $ 117,000 (19,200) X (23,000) X 117,000 35,100 53,500 80,000 X 13,900 579,000 6,200 128,500 628,500
Transcribed Image Text:The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, 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 Operating Loss Adjustments: Depreciation Expense Decrease in Accounts Receivable (net) Decrease in Due From Other Funds Decrease in Supplies Inventory Increase in Accounts Payable $ 31,900 Net Cash Provided (Used) by Operating Activities 55,500 732,000 99,500 509,000 53,500 18, 200 41,400 Answer is complete but not entirely correct. VILLAGE OF SEA SIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the year ended December 31, 2024 S (38,100) $ Required: 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. Note: Negative amounts should be entered with a minus sign. 53,500 S (18,200) 20,700 $ 1,561,700 $ 1,561,700 Credits $ 117,000 (19,200) X (23,000) X 117,000 35,100 53,500 80,000 X 13,900 579,000 6,200 128,500 628,500
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