The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31,...
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The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Debits Credits $ 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals 40,000 4,000 119,000 625,000 18,000 $1,479,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capital assets and there are no restricted assets.) Required A Required B Required C Prepare the closing entries for December 31. (If no entry is required for a transaction/event, select "No Journal Ent first account field.) View transaction list View journal entry worksheet No Date General Journal 1 December 31 Charges for Sales and Service Debit Credit 550 000 Required A Required B Required C Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. (Deductions should be entered as a negative amount.) VILLAGE OF SEASIDE PINES, ENTERPRISE FUND Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2020 Revenues: Charges for Sales and Services $ 550 000 Required A Required B Required C Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capital assets and there are no restricted assets.) VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2020 Net Position: blot Inuootmont in Conital Anonto The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Debits Credits $ 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals 40,000 4,000 119,000 625,000 18,000 $1,479,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capital assets and there are no restricted assets.) Required A Required B Required C Prepare the closing entries for December 31. (If no entry is required for a transaction/event, select "No Journal Ent first account field.) View transaction list View journal entry worksheet No Date General Journal 1 December 31 Charges for Sales and Service Debit Credit 550 000 Required A Required B Required C Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. (Deductions should be entered as a negative amount.) VILLAGE OF SEASIDE PINES, ENTERPRISE FUND Statement of Revenues, Expenses, and Changes in Fund Net Position For the Year Ended December 31, 2020 Revenues: Charges for Sales and Services $ 550 000 Required A Required B Required C Prepare the Net Position section of the December 31 balance sheet. (Assume that the revenue bonds were issued to acquire capital assets and there are no restricted assets.) VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2020 Net Position: blot Inuootmont in Conital Anonto
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Fundamentals Of Electric Circuits
ISBN: 9780073301150
3rd Edition
Authors: Matthew Sadiku, Charles Alexander
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