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. Depreciation on infrastructure assets.
3. Transfers from other funds.
4. Cash proceeds of short-term note issuances.
5. Retirement of bonds payable of the fund.
6. Routine annual transfers from other funds.
7. Gain on sale of capital assets.
8. “Loss” on advance refunding of bonds.
9. Restricted grants received that can be used for operations or for capital asset acquisition—assume 30% was expended during the year to acquire capital assets, 30% to cover operating expenses, and 40% has not been expended.
10. Entering into a capital lease with a capitalizable cost of $4,000,000 on the last day of the year—assume an initial payment on that day of $1,000,000.