7-25 - 7-25 a CITY OF BAY LAKE WATER UTILITY FUND GENERAL JOURNAL Debits 1 SALES OF WATER 500,000 ACCRUED UTILITY REVENUE 2 ACCOUNTS RECEIVABLE DUE

7-25 - 7-25 a CITY OF BAY LAKE WATER UTILITY FUND...

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7-25. a . CITY OF BAY LAKE WATER UTILITY FUND GENERAL JOURNAL Debits Credits 1. SALES OF WATER 500,000 ACCRUED UTILITY REVENUE 500,000 2. ACCOUNTS RECEIVABLE 2,788,691 DUE FROM GENERAL FUND 193,866 SALES OF WATER 2,982,557 3. CASH 260,000 INTEREST INCOME 178,000 INTEREST RECEIVABLE 82,000 4. MANAGEMENT & ADMINISTRATION EXPENSE 360,408 MAINTENANCE & DISTRIBUTION EXPENSE 689,103 TREATMENT PLANT EXPENSE 695,237 ACCOUNTS PAYABLE 1,744,748 5. CASH—RESTRICTED 2,427 CUSTOMER DEPOSITS 2,427 6. CASH 2,943,401 ACCOUNTS RECEIVABLE 2,733,870 DUE FROM GENERAL FUND 209,531
Ch. 7, Solutions, Exercise 7-25 (Cont'd) Debits Credits 7. ACCOUNTS PAYABLE 1,462,596 INTEREST PAYABLE 131,772 INTEREST EXPENSE 264,145 CURRENT PORTION OF LONG-TERM DEBT 400,000 MACHINERY & EQUIPMENT 583,425 CUSTOMER DEPOSITS 912 CASH 2,841,938 CASH—RESTRICTED 912 8. CASH 475,000 CONTRIBUTION—CAPITAL GRANT 475,000 9. ACCUMULATED PROVISION FOR UNCOLLECTIBLE ACCOUNTS 10,013 ACCOUNTS RECEIVABLE 10,013 10. INTERFUND TRANSFER OUT 800,000 CASH 800,000 11. DEPRECIATION EXPENSE 600,132 UNCOLLECTIBLE ACCOUNTS 14,913 INTEREST EXPENSE 61,406 ACCUMULATED DEPRECIATION—BUILDINGS 240,053 ACCUMULATED DEPRECIATION—MACHINERY & EQUIPMENT 360,079 ACCUMULATED PROVISION FOR UNCOLLECTIBLE ACCOUNTS 14,913 INTEREST PAYABLE 61,406
Ch. 7, Solutions, Exercise 7-25 (Cont'd) Debits Credits ACCRUED UTILITY REVENUE 700,000 INTEREST RECEIVABLE 15,849 SALES OF WATER 700,000 INTEREST INCOME 15,849 12. REVENUE BOND PAYABLE 400,000 CURRENT PORTION OF LONG-TERM DEBT 400,000 13.

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