Question: I need help finishing up part C plz , everything else seems correct, unless I ' m mistaking. The City of Saltwater Beach established an
I need help finishing up part C plz everything else seems correct, unless Im mistaking.
The City of Saltwater Beach established an enterprise fund two years ago to construct and operate Tribute Aquatic Center, a public swimming pool. The pool was completed and began operations last year. All costs, including repayment of debt, are to be paid by user fees. The fund's preclosing trial balance for the current year is shown below.
Cash And Cash Equivalents $Debit
Accounts Receivable Debit
Supplies Debit
Restricted Cash And Cash Equivalents Debit
Land Debit
Buildings And Equipment Debit
Accumulated Depreciation Buildings And Equipment Credit
Improvements Other Than Buildings Debit
Accum. Deprec. Improve. Other Than Buildings Credit
Accounts And Accrued Payables Credit
Current Portion Of LongTerm DebtBonds Credit
Bonds Payable Credit
Net Position Net Investment In Capital Assets Credit
Net Position Restricted Credit
Net Position Unrestricted Credit
Charges For Services Credit
Interest And Dividend Income Credit
Personnel Expenses Debit
Utilities Expense Debit
Repairs And Maintenance Debit
Supplies Expense Debit
Depreciation Expense Debit
Interest Expense Debit
Total Debit
Total Credit
Additional information concerning the Tribute Aquatic Center Fund follows.
# All bonds payable were used to acquire property, plant, and equipment
# Each year, a payment is required on January to retire an equal portion of the bonds payable
# Equipment was sold for cash at its carrying value of $
# Total cash received from customers was $ and cash received for interest and dividends was $ of this amount, $ was restricted cash. There were no other changes to restricted cash during the year
# Cash payments included $ for personnel expenses, $ for utilities, $ for repairs and maintenance, $ for interest on bonds, and $ for supplies
# The beginning balance in cash was $ accounts receivable was $ supplies was $ and accounts and accrued payables was $ Accrued payables include personnel expenses, utilities, and repairs and maintenance
# The net position categories shown on the preclosing trial balance have not been updated to reflect correct balances at yearend
C Prepare the statement of cash flows for the Tribute Aquatic Center at yearend
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