Presented here is the preclosing trial balance information for the total of Locklear County€™s four Enterprise Funds for the year ended September 30, 20X7.

Additional Information
1. The Contribution from Locklear County resulted from general capital assets being reassigned for use in Enterprise Fund departments.
2. Expenses of the Golf Course, Transit Authority, and Convention Center Enterprise Funds included charges for water and sewer services of $25,000, $2,000, and $8,000, respectively.

Required
a. Discuss the adjustments that are necessary to convert this information to the data to be used for the business-type activities in preparing the government-wide financial statements.
b. Prepare the business-type activities column for the government-wide Statement of Net Position and the business-type activities columns and rows of the Statement ofActivities.

Transcribed Image Text:

Debit Credit 1,800,000 8,100,0000 Cash-... Accounts Receivable Allowance for Uncollectible Accounts Due from Other Enterprise Funds nventory. Land:.. Buildings . Accumulated Depreciation-Buildings Equipment. Accumulated Depreciation-Equipment Vouchers Payable Due to General Fund Due to Other Enterprise Funds Unearned Grant Revenues Bonds Pavable Discount on Bonds Payable Net Position . Charges for Services: 100,000 600,000 3,000,000 2,000,000 10,000,000 4,500,000 27,000,000 18,000,000 3,600,000 550,000 600,000 2,000,000 6,000,000 200,000 14,070,000 Water and Sewer 8,000,000 1,000,000 1,500,000 4,000,000 3,700,000 100,000 50,000 830,000 Jacobs Ridge Golf Course … Transit Authority Hardin-Emanuel Convention Center .. Transfers from General Fund Investment Income Gain on Sale of Equipment Contributions (of Capital Assets) from Locklear County Water and Sewer Expenses Golf Course Expenses Transit Authority Expenses Convention Center Expenses 7,200,000 1,100,000 2,600,000 5,000,000 Totals S68,600,000 $68,600,000