What are the major classifications of cash flows that must be presented for a proprietary fund? Distinguish among them and give at least two examples of each classification.
Answer to relevant QuestionsWhat are the key differences between the cash flow statement requirements for Enterprise Funds and those for business enterprises?What determines whether cash received from a borrowing is reported as cash flows from noncapital financing activities or from capital and related financing activities?Explain or illustrate how the following items should be reported in an Enterprise Fund’s statement of revenues, expenses, and changes in fund net position:1. Depreciation on capital grant–financed capital assets.2. ...McKenzie’s Point issued $1,200,000 of 6%, 10-year serial bonds at par on July 1, 20X4. Interest is due semiannually on January 1 and July 1 each year, and one-tenth of the principal is due each July 1. The bond indenture ...Under what circumstances would the direct cost of the goods or services provided (with no additions to acquisition cost for such items as depreciation or overhead) be the appropriate basis for Internal Service Fund ...
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