Bellevue Citys printing shop had the following trial balance on January 1, 20X2: Additional Information for 20X2
Question:
Additional Information for 20X2
1. During 20X2, the printing shop acquired supplies for $96,000, furniture for $1,500, and a copier for $3,200.
2. Printing jobs billed to other funds amounted to $292,000; cash received from other funds, $287,300; costs of printing jobs, $204,000, including $84,000 of supplies; operating expenses, $38,000, including $8,400 of supplies; depreciation expense, $23,000; and vouchers paid, $243,000.
Required
a. Prepare entries for the printing shop for 20X2, including closing entries.
b. Prepare a statement of net assets for the fund on December 31, 20X2. No debt is related to the year-end amount of the funds capital assets.
c. Prepare a statement of revenues, expenses, and changes in fund net assets for 20X2.
d. Prepare a statement of cash flows for20X2.
Step by Step Answer:
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker