FINISH STATEMENT BELOW: Problem 3: enterprise fund financial statement questions As of January 1, 2021, the City

  FINISH STATEMENT BELOW:

 

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Problem 3: enterprise fund financial statement questions As of January 1, 2021, the City of Summerville began operating a municipal bus operation. The adjusted trial balance below was prepared as of December 31, 2021: Cash Investments in debt securities Fuel and supplies Restricted Assets Land Land Improvements Accumulated Depreciation-Land Improvements Building Accumulated Depreciation-Building Buses Accumulated Depreciation-Buses Accounts Payable Salaries Payable Interest Payable Notes Payable Revenue Bonds Payable Other Financing Sources-transfer in Revenues-charges for services Interest income on debt securities Fuel and Supplies Expense Salaries Expense Utilities Expense Depreciation Expense Interest Expense Totals $ Debits 48,500 85,000 20,000 35,000 150,000 250,000 300,000 500,000 60,000 120,000 49,500 80,000 30,500 $1,728,500 $ Credits 10,000 20,000 50,000 45,000 15,000 10,000 15,000 800,000 400,000 360,000 3,500 $1,728,500 Problem 3: enterprise fund financial statement questions As of January 1, 2021, the City of Summerville began operating a municipal bus operation. The adjusted trial balance below was prepared as of December 31, 2021: Cash Investments in debt securities Fuel and supplies Restricted Assets Land Land Improvements Accumulated Depreciation-Land Improvements Building Accumulated Depreciation-Building Buses Accumulated Depreciation-Buses Accounts Payable Salaries Payable Interest Payable Notes Payable Revenue Bonds Payable Other Financing Sources-transfer in Revenues-charges for services Interest income on debt securities Fuel and Supplies Expense Salaries Expense Utilities Expense Depreciation Expense Interest Expense Totals $ Debits 48,500 85,000 20,000 35,000 150,000 250,000 300,000 500,000 60,000 120,000 49,500 80,000 30,500 $1,728,500 $ Credits 10,000 20,000 50,000 45,000 15,000 10,000 15,000 800,000 400,000 360,000 3,500 $1,728,500

Answer rating: 100% (QA)

To complete the net position section of the statement of net position at December 31 2021 for the Mu... View the full answer