Central Garage Internal Service Fund. The City of Ashville operates an internal service fund to provide garage space and repairs for all city-owned-and-operated vehicles. The Central Garage Fund was established by a contribution of $300,000 from the General Fund on July 1, 2008, at which time the land and building were acquired. The post-closing trial balance at June 30, 2010, was as follows:

The following information applies to the fiscal year ended June 30. 2011:
1. Supplies were purchased on account for $92,000; the perpetual inventory method is used.
2. The cost of supplies used during the year ended June 30, 2011, s $110,000. A physical count taken as of that date showed materials and supplies on hand totaled $72,000 at cost.
3. Salaries and wages paid to employees totaled $235,000, including related costs.
4. Billings totaling $30,000 were received from the enterprise fund for utility charges. The Central Garage Fund paid $27,000 of the amount owed.
5. Depreciation of the building was recorded in the amount of $10,000; depreciation of the machinery and equipment amounted to $9,000.
6. Billings to other departments for services provided to them were as follows:
General Fund $270,000
Special Revenue Fund 37,000
Water and Sewer Utility Fund 90,000
7. Unpaid interfund receivable balances were as follows:

8. Vouchers payable at June 30, 2011, were $16,000.
9. For June 30, 2011, closing entries were prepared for the Central Garage Fund (ignore government-wide closing entry).
Required
a. Assume all expenses at the government-wide level are charged to the General Government function. Prepare journal entries to record all of the transactions for this period in the Central Garage Fund accounts and in the governmental activities accounts.
b. Prepare a statement of revenues, expenses, and changes in net assets for the Central Garage Fund for the period ended June 30, 2011.
c. Prepare a statement of net assets for the Central Garage Fund as of June 30, 2011.
d. Explain what the Central Garage Fund would need to report at the governmental activities level, and where the information would bereported.

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Debits Credits Cash $110,000 Due from Other Funds 9,000 Inventory of Supplies Land 90,000 50,000 Building Allowance for Depreciation Building Machinery and Equipment Allowance for Depreciation- Machinery and Equipment Vouchers Payable Net AssetsHnvested in Capital Assets 250,000 $ 20,000 65,000 12,000 31,000 333,000 Nets Assets-Unrestricted 178,000 $574,000 $574,000