The city established a separate governmental entity to run the activities of its zoo. The entity...
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The city established a separate governmental entity to run the activities of its zoo. The entity prepares its budget on a cash basis. The entity incurred $30,000 in maintenance expenses during the fiscal year but paid only $27,000. Depreciation on zoo equipment is $15,000 per year. The entity collected admission fees of $75,000 for the fiscal year. The zoo owes accrued interest of $15,000 on its outstanding debt at year-end. The zoo purchased $30,000 worth of equipment during the year. The zoo received a promise from a wealthy patron for a $100.000 donation to help cover its operating costs but had not yet received any funds by the end of the fiscal year. Prepare the actual cash budget for the year, which is simply a list of cash in-flows and out-flows during the year. The city established a separate governmental entity to run the activities of its zoo. The entity prepares its budget on a cash basis. The entity incurred $30,000 in maintenance expenses during the fiscal year but paid only $27,000. Depreciation on zoo equipment is $15,000 per year. The entity collected admission fees of $75,000 for the fiscal year. The zoo owes accrued interest of $15,000 on its outstanding debt at year-end. The zoo purchased $30,000 worth of equipment during the year. The zoo received a promise from a wealthy patron for a $100.000 donation to help cover its operating costs but had not yet received any funds by the end of the fiscal year. Prepare the actual cash budget for the year, which is simply a list of cash in-flows and out-flows during the year.
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Answer rating: 100% (QA)
heres a breakdown of the cash inflows and outflows for the zoo... View the full answer
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-1259917059
18th edition
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
Posted Date:
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