le 12 abril 2018 Nombre: Required: $3,300 105 12 Using the information provided

ID: 2524266 • Letter: L

Question

le 12 abril 2018 Nombre: Required: $3,300 105 12 Using the information provided below for the Water Utility Enterprise Fund of the City of Rice, prepare a statement of revenues, expenses, and changes in fund net position for 20X3. Charges for services.......... Interest received.............. Increase in fair value of investments ... Gain on sale of capital assets.......... Operating transfers from the General Fund ... Capital Grant............ Salaries expense..................... Contractual services used ... Supplies used ............ Depreciation.. Interest expense ............. Unrestricted Net Position, January 1, 20X3 ... Restricted Net Position, January 1, 20X3 ...... Net Investment in Capital Assets, January 1, 20X3 450 1,200 1,000 300 400 1,100 250 1,000 200 1,800

Explanation / Answer

Water utility enterprise fund

Statement of Revenues,Expenses and change in fund

For the year 20X3

Revenue

Charges for Services

3300

Total Revenue from business (A)

3300

Expense and losses

Salaries Expense

1000

Contractual Service used

300

Supplies Used

400

Interest Expense

250

Depreciation

1100

Total Expense and Losses (B)

3050

Net Income from Business(C)= (A)-(B)

250

Interest revenue

105

Gain on sale of assets

Total other Income (D)

113

Revenue over Expenditure (E)=(C )+(D)

363

Other financing source

capital grant received

1200

operating transfer from general fund

450

Total other financing source (F)

1650

Excess of revenue over expenditure and other source (G)=(E )+(F)

2013

Unrestricted Fund balance at beginning (D)

1000

Fund balance end of the year (E) =(G)+(D)

3013