Augusta has a municipal water and gas utility district MUD The trial balance on January X follows:

Debit Credit

Cash $

Accounts Receivable

Inventory of Supplies

Land

Plant and Equipment

Accumulated Depreciation                                                                                    $

Vouchers Payable                                                                                                     

Bonds Payable,

Net Position:

Invested in Capital Assets, Net of Related Debt                                                

Unrestricted                                                                                                           

Total                                                                                                                        $

Additional Information for X:

Charges to customers for water and gas were $; collections were $

A loan of $ for two years was received from the general fund.

The water and gas lines were extended to a new development at a cost of $ The contractor was paid.

Supplies were acquired from central stores internal service fund for $ Operating expenses were $ and interest expense was $ Payment was made for the interest and the payable to central stores, and $ of the vouchers were paid.

Adjusting entries were as follows: estimated uncollectible accounts receivable, $; depreciation expense, $; and supplies expense, $

Required:

Prepare entries for the MUD enterprise fund for X and closing entries.

Prepare a statement of net position for the fund for December X

Prepare a statement of revenues, expenses, and changes in fund net position for X Assume that the $ of the percent bonds is related to the net capital assets of land and of plant and equipment.

Prepare a statement of cash flows for X

Answer rating: 100% (QA)

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