The Village of Parry reported the following for its Print Shop Fund for the year

Question

The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2017.

The Print Shop Fund records also revealed the following:

The following balances were observed in current asset and current liability accounts. ( ) denote credit balances:

Prepare a Statement of Cash Flows for the Village of Parry Print Shop Fund for the year ended April 30, 2017. Include the reconciliation of operating income to net cash provided by operating activities. (Amounts to be deducted should be indicated by a minus sign.)

VILLAGE OF PARRY—PRINT SHOP FUND Statement of Revenues, Expenses, and Changes in Net Position For the Year Ended April 30, 2017 Operating revenues: Charges for services $ 1,110,000 Operating expenses: Salaries and benefits $ 500,000 Depreciation 303,000 Supplies used 202,000 Utilities 72,700 Total operating expenses 1,077,700 Income from operations 32,300 Nonoperating income (expenses): Interest revenue 3,400 Interest expense (5,500 ) Total nonoperating expenses (2,100 ) Income before transfers 30,200 Transfers in 190,000 Changes in net position 220,200 Net position—beginning 1,124,000 Net position—ending $ 1,344,200

Explanation / Answer

Cash Flow Statement :-

Reconciliation of Operating Income :-

Cash Flow from Operating Activities :- Cash Received from Departments 1092000 Less : Salaries and Benefits Paid (490000) Less : Suppliers Paid (210000) Less : Utilities Paid (69900) (769900) Net Cash Flow from Operating Activity 322100 Cash Flow from Investing Activity :- Add : Interet Collection ($3400-$500) 2900 Less : Investments Purchase (54000) Net Cash Flow from Investing Activity (51100) Cash Flow from Non-Capital Financing Activities :- Less : Payment of Bank Loan Principal (66300) Add : Transfer for Working Capital 86000 Net Cash Flow from Non-Capital Financing Activities 19700 Cash Flow from Capital and Related Financing Activities :- Add : Transfer for Equipment Purchase 104000 Add : Loan from Water Utility 304000 Less : Purchase of Equipment (504000) Less : Interest Paid (8300) Net Cash Flow from Capital and Related Financing Activities (104300) Net Cash Increase 186400 Add : Beginning Cash Balance 196700 Ending Cash Balance 383100

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