ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
18th Edition
ISBN: 9781307515596
Author: RECK
Publisher: MCG/CREATE
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Textbook Question
Chapter 7, Problem 27EP
Enterprise Fund Statement of
- 1. The beginning balance for cash and cash equivalents was $86,210 and for restricted cash was $12,366.
- 2. The utility collected $2,500 in customer deposits throughout the year. Deposits of $1,100 were returned, and accounts of $200 were written off.
- 3. Cash paid to vendors totaled $19,981, while cash paid to employees was $35,250.
- 4. The utility repaid revenue bonds restricted for capital acquisitions in the amount of $17,500 and issued new debt of $15,000 to acquire new equipment. Equipment costing $8,000 was purchased for cash during the year.
- 5. Cash receipts came from customers, $112,793; interest on investments, $900; a transfer from the General Fund, $5,000; and interest on customer deposits, $625. (Assume that interest on customer deposits is not restricted.)
Required
Prepare a statement of cash flows for the Cumberland County Utility Enterprise Fund. (Ignore the reconciliation of operating income to net cash provided by operating activities because insufficient information is provided to complete the reconciliation.)
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Students have asked these similar questions
The following transactions were among those reported by Corfe City's electric utility enterprise fund for Year 1:
Cash paid to supplier $ 900,000
Cash received from customer households 2,700,000
Proceeds from the sale of revenue bonds 4,500,000
In the electric utility enterprise fund's statement of cash flows for the year ended December 31, Year 1, what amount should be reported as cash flows from capital and related financing activities?
A.) $4,500,000
B.) $5,400,000
C.) $7,200,000
D.) $8,100,000
county general fund had the following disbursements during the year
Payment of amount to debt service fund $300,000
Payments to vendors $400,000
Purchase of computers $200,000
What amount should Lake County report as expenditures in its governmental funds statement of revenues, expenditures, and change in fund balances:
Select one :-
a.
$900,000
b.
$200,000
c.
$700,000
d.
$400,000
please help me to solve this question
Chapter 7 Solutions
ACCT. FOR GOV.&NONPROF. ENTITIES>CUSTOM
Ch. 7 - Prob. 1QCh. 7 - Explain the reporting requirements for internal...Ch. 7 - A member of the city commission insists that the...Ch. 7 - Prob. 4QCh. 7 - What is the purpose of the Restricted Assets...Ch. 7 - Prob. 6QCh. 7 - Prob. 7QCh. 7 - When do GASB standards require interfund...Ch. 7 - Prob. 9QCh. 7 - What is meant by segment information for...
Ch. 7 - Prob. 11QCh. 7 - Internal Service Fund Reporting. (LO7-2) Financial...Ch. 7 - Proprietary Fund Operating Statement. (LO7-1)...Ch. 7 - Enterprise Fund Golf Course Management. (LO7-1)...Ch. 7 - Prob. 17.1EPCh. 7 - Which of the following would most likely be...Ch. 7 - Under GASB standards, the City of Parkview is...Ch. 7 - Prob. 17.4EPCh. 7 - Which of the following events would generally be...Ch. 7 - Proprietary funds a. Are permitted to integrate...Ch. 7 - Prob. 17.7EPCh. 7 - Prob. 17.8EPCh. 7 - Prob. 17.9EPCh. 7 - Prob. 17.10EPCh. 7 - The City of Tutland issued 10 million, 6 percent,...Ch. 7 - The City of Tutland issued 10 million, 6 percent,...Ch. 7 - Prob. 18EPCh. 7 - Prob. 19EPCh. 7 - Central Garage Internal Service Fund. (LO7-2) The...Ch. 7 - Internal Service Fund Statement of Cash Flows....Ch. 7 - Tribute Aquatic Center Enterprise Fund. (LO7-5)...Ch. 7 - Net Position Classifications. (LO7-5) During the...Ch. 7 - Central Station Enterprise Fund. (LO7-5) The Town...Ch. 7 - Enterprise Fund Journal Entries and Financial...Ch. 7 - Net Position Classifications. (LO7-5) The Village...Ch. 7 - Enterprise Fund Statement of Cash Flows. (LO7-5)...Ch. 7 - AppendixSolid Waste Enterprise Fund. (LO7-6) Brown...
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