6 3 chapter 06 proprietary funds 6 6 a town of weston

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Chapter 06 - Proprietary Funds6-6 (A).TOWN OF WESTONWATER UTILITY FUNDGENERAL JOURNALJULY 1, 2014 - JUNE 30, 2015DEBITSCREDITS1. ACCRUEDEXPENSESCASH75,00075,0002. CUSTOMERACCOUNTSRECEIVABLEDUEFROMOTHERFUNDSOPERATINGREVENUES-CHARGESFORSALESANDSERVICES1,400,000107,0001,507,0003. MATERIALSANDSUPPLIESOPERATINGEXPENSES-COSTSOFSALESANDSERVICESOPERATINGEXPENSES-ADMINISTRATIONCONSTRUCTIONWORKINPROGRESSACCOUNTSPAYABLE215,000354,000200,000220,000989,0004. OPERATINGEXPENSES-COSTSOFSALESANDSERVICESMATERIALSANDSUPPLIES265,700265,7005. ALLOWANCEFORUNCOLLECTIBLEACCOUNTSCUSTOMERACCOUNTSRECEIVABLE8,0008,0006. CASHCUSTOMERACCOUNTSRECEIVABLEDUEFROMOTHERFUNDS1,518,4001,470,00048,4007. ACCOUNTSPAYABLECASH1,035,0001,035,0008. NONOPERATINGEXPENSES-INTERESTCASH175,000175,0009. UTILITYPLANTINSERVICECONSTRUCTIONWORKINPROGRESS185,000185,00010.OPERATINGEXPENSES-DEPRECIATIONACCUMULATEDDEPRECIATIONOFUTILITYPLANT226,000226,00011.CONSTRUCTIONWORKINPROGRESSNONOPERATINGEXPENSES-INTEREST25,00025,00012.OPERATINGREVENUES-CHARGESFORSALESANDSERVICESALLOWANCEFORUNCOLLECTIBLEACCOUNTS13,10013,1006-6 (A) (CONTINUED).6-4
Chapter 06 - Proprietary FundsDEBITSCREDITS13.RESTRICTEDASSETSCASH100,000100,00014.OPERATINGEXPENSES-COSTSOFSALESANDSERVICESACCRUEDEXPENSES63,00063,00015.OPERATINGREVENUES-CHARGESFORSALESANDSERVICESOPERATINGEXPENSES-COSTSOFSALESANDSERVICESOPERATINGEXPENSES-ADMINISTRATIONOPERATINGEXPENSES-DEPRECIATIONNONOPERATINGEXPENSES-INTERESTNETPOSITION1,493,900682,700200,000226,000150,000235,2006-6 (B).TOWN OF WESTONWATER UTILITY FUNDSTATEMENT OF REVENUES, EXPENSES, AND CHANGESIN FUND NET POSITIONFOR THE YEAR ENDED JUNE 30, 2015OPERATINGREVENUES:CHARGESFORSALESANDSERVICESOPERATINGEXPENSES:COSTSOFSALESANDSERVICESADMINISTRATIONDEPRECIATIONTOTALOPERATINGEXPENSES$682,700200,000226,000$1,493,9001,108,700OPERATINGINCOMENONOPERATINGREVENUES(EXPENSES):INTERESTONLONG-TERMDEBT385,200(150,000)CHANGEINNETPOSITION235,200NETPOSITION- JULY1, 20141,675,000NETPOSITION- JUNE30, 2015$1,910,2006-6 (C).TOWN OF WESTONWATER UTILITY FUND6-5
Chapter 06 - Proprietary FundsSTATEMENT OF NET POSITIONAS OF JUNE 30, 2015ASSETS:CURRENTANDACCRUEDASSETS:CASHCUSTOMERACCOUNTSRECEIVABLELESSALLOWANCEFORUNCOLLECTIBLEACCOUNTSDUEFROMOTHERFUNDSMATERIALSANDSUPPLIESTOTALCURRENTANDACCRUEDASSETS$222,000(25,100)$363,400196,90058,60069,300$ 688,200OTHERPROPERTYANDINVESTMENTS:RESTRICTEDASSETS350,000UTILITYPLANT:UTILITYPLANTINSERVICELESSACCUMULATEDDEPRECIATIONUTILITYPLANT-NETCONSTRUCTIONWORKINPROGRESSNETUTILITYPLANTTOTALASSETS7,185,000 (2,826,000)4,359,000160,0004,519,000$5,557,200LIABILITIES:CURRENTLIABILITIES:ACCOUNTSPAYABLEACCRUEDEXPENSESTOTALCURRENTLIABILITIES84,00063,000147,000LONG-TERMDEBT:REVENUEBONDSPAYABLETOTALLIABILITIES3,500,0003,647,000NETPOSITION: (1)NETINVESTMENTINCAPITALASSETSRESTRICTEDRESTRICTEDUNRESTRICTEDTOTALNETPOSITION1,019,000350,000541,200$1,910,200(1)Net investment incapital assetsRestrictedUnrestrictedTotalInvested in Capital Assets net of DebtCapital Assets (net)4,519,0004,519,000Less Revenue Bond Payable(3,500,000)(3,500,000)Restricted 350,000350,000

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