ACIS+4124+5124+P7-8+Solution

ACIS+4124+5124+P7-8+Solution - 7-8. a.CITY OF BAY LAKEWATER...

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Unformatted text preview: 7-8. a.CITY OF BAY LAKEWATER UTILITY FUNDGENERAL JOURNALDebitsCredits1.SALES OF WATER500,000ACCRUED UTILITY REVENUE500,0002.ACCOUNTS RECEIVABLE2,788,691DUE FROM GENERAL FUND193,866SALES OF WATER2,982,5573.CASH260,000INTEREST INCOME178,000ACCRUED INTEREST RECEIVABLE 82,0004.MANAGEMENT & ADMINISTRATION EXPENSE360,408MAINTENANCE & DISTRIBUTION EXPENSE689,103TREATMENT PLANT EXPENSE695,237ACCOUNTS PAYABLE 1,744,7485.CASHRESTRICTED2,427CUSTOMER DEPOSITS2,4276.CASH 2,943,401ACCOUNTS RECEIVABLE2,733,870DUE FROM GENERAL FUND 209,531DebitsCredits7.ACCOUNTS PAYABLE1,462,596ACCRUED INTEREST PAYABLE131,772INTEREST EXPENSE264,145CURRENT PORTION OF LONG-TERM DEBT400,000MACHINERY & EQUIPMENT583,425CUSTOMER DEPOSITS912CASH 2,841,938CASHRESTRICTED9128.CASH475,000CONTRIBUTIONCAPITAL GRANT 475,0009.ACCUMULATED PROVISION FOR UNCOLLECTIBLEACCOUNTS10,013ACCOUNTS RECEIVABLE10,01310.INTERFUND TRANSFER OUT800,000CASH800,00011.DEPRECIATION EXPENSE600,132UNCOLLECTIBLE ACCOUNTS14,913INTEREST EXPENSE61,406ACCUMULATED DEPRECIATIONBUILDINGS240,053ACCUMULATED DEPRECIATIONMACHINERY& EQUIPMENT360,079ACCUMULATED PROVISION FOR UNCOLLECTIBLE ACCOUNTS14,913ACCRUED INTEREST PAYABLE61,406DebitsCreditsACCRUED UTILITY REVENUE700,000ACCRUED INTEREST RECEIVABLE15,849SALES OF WATER700,000INTEREST INCOME15,84912.REVENUE BOND PAYABLE400,000CURRENT PORTION OF LONG-TERM DEBT400,00013.SALES OF WATER3,182,557INTEREST INCOME193,849CONTRIBUTIONCAPITAL GRANT475,000MANAGEMENT & ADMINISTRATION EXPENSE360,408MAINTENANCE & DISTRIBUTION EXPENSE689,103TREATMENT PLANT EXPENSE695,237INTERFUND TRANSFERS OUT800,000INTEREST EXPENSE325,551DEPRECIATION EXPENSE600,132UNCOLLECTIBLE ACCOUNTS14,913NET ASSETSUNRESTRICTED366,062NET ASSETSUNRESTRICTED383,293NET ASSETSINVESTED IN CAPITAL ASSETS, NET OF RELATED DEBT*383,293...
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ACIS+4124+5124+P7-8+Solution - 7-8. a.CITY OF BAY LAKEWATER...

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