Using the following information, prepare the Statement of Revenues, Expenses, and Changes in Net Assets for the town of Robinson Water and Sewer Enterprise Fund for the year ended June 30, 20X6.

Water and sewer service claims and judgments paid during the year totaled $100,000. The liability (half of which is long-term) for these claims and judgments increased by $10,000 during the year. The refunded bonds have a 5-year remaining term, and the term of the new bonds is 10 years.

Transcribed Image Text:

Charges for water services rendered Charges for sewer services rendered Interest income .... Increase in fair value of investments Proceeds of bond issuance Salaries and wages Contractual services (purchased) Depreciation on infrastructure capital assets... Depreciation on capital assets contributed by subdividers....... Depreciation on other capital assets Capital grants received (all grant conditions met) ... Operating grants received (half expended for operations; half for capital asset purchases; all grant conditions met)... Gain on sale of equipment Deferred interest expense adjustment (debit), beginning of year .... Transfer to General Fund .... Transfer from Special Revenue Fund Interest on short-term note payable Repayment of short-term note payable. Interest on bonds payable Net Assets, July 1, 20X5 .. **** ... ... ... $ 1,800,000 2,000,000 50,000 12,000 13,000,000 400,000 2,600,000 100,000 75,000 80,000 1,500,000 250,000 13,000 100,000 127,000 500,000 5,000 75,000 95,000 22,000,000