Inglis City had a beginning cash balance in its enterprise fund of $895,035. During 2017, the...

 

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Inglis City had a beginning cash balance in its enterprise fund of $895,035. During 2017, the following transactions occurred: 1. Interest received on investments totaled $42,390. 2. The city acquired additional equity investments totaling $74,440. 3. A grant was received from the state in the amount of $49,500 for summer interns. 4. Receipts from sales of goods or services totaled $2,886,200. 5. Payments for supplies were made in the amount of $1,625,800. 6. Payments to employees for salaries amounted to $474,700. 7. Equipment was sold for $56.800. It had a book value of $55,985. 8. $24,900 was transferred to the General Fund 9. Other cash expenses for operations were $89,100. 10. Long-term debt payments totaled $524,700. Required Prepare a statement of cash flows for the Inglis City enterprise fund. (Negative amounts should be indicated by a minus sign.) INGLIS CITY Enterprise Fund Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities: Cash Received from Customers Cash Paid To: Net Cash Provided by Operating Activities Cash Flows from Noncapital Financing Activities: Net Cash Provided by Noncapital Financing Activities Cash Flows from Capital Financing Activities: Net Cash Used by Capital Financing Activities Cash Flows from Investing Activities: Net Cash Provided by Investing Activities Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, 1/1/2017 Cash and Cash Equivalents, 12/31/2017 0 $ S 0 0 0 0 0 0 Inglis City had a beginning cash balance in its enterprise fund of $895,035. During 2017, the following transactions occurred: 1. Interest received on investments totaled $42,390. 2. The city acquired additional equity investments totaling $74,440. 3. A grant was received from the state in the amount of $49,500 for summer interns. 4. Receipts from sales of goods or services totaled $2,886,200. 5. Payments for supplies were made in the amount of $1,625,800. 6. Payments to employees for salaries amounted to $474,700. 7. Equipment was sold for $56.800. It had a book value of $55,985. 8. $24,900 was transferred to the General Fund 9. Other cash expenses for operations were $89,100. 10. Long-term debt payments totaled $524,700. Required Prepare a statement of cash flows for the Inglis City enterprise fund. (Negative amounts should be indicated by a minus sign.) INGLIS CITY Enterprise Fund Statement of Cash Flows For the Year Ended December 31, 2017 Cash Flows from Operating Activities: Cash Received from Customers Cash Paid To: Net Cash Provided by Operating Activities Cash Flows from Noncapital Financing Activities: Net Cash Provided by Noncapital Financing Activities Cash Flows from Capital Financing Activities: Net Cash Used by Capital Financing Activities Cash Flows from Investing Activities: Net Cash Provided by Investing Activities Net Increase in Cash and Cash Equivalents Cash and Cash Equivalents, 1/1/2017 Cash and Cash Equivalents, 12/31/2017 0 $ S 0 0 0 0 0 0

Answer rating: 100% (QA)

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