From the information in P11-5, prepare the statement of cash flows (direct method) for the Metro School District Repair Shop Internal Service Fund for the year ended December 31, 20X6. (Omit reconciliation and schedules.)
In P11-5, The trial balance for the Metro School District Repair Shop at January 1, 20X6, was as follows:

The Repair Shop Fund had the following transactions during 20X6:
1. Materials purchased on account, $20,000.
2. Materials used, $7,000.
3. Payroll paid, $12,000.
4. Utilities paid, $3,500.
5. Billings to departments for repair services, $29,500.
6. Collections from departments, $27,900.
7. Equipment acquired under a capital lease; capitalizable cost, $8,000, and initial payment, $300.
8. Subsequent lease payments, $1,000, including $100 interest.
9. Depreciation on:
Buildings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,000
Equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000
  $ 6,000
10. Payments on vouchers payable (for materials),$30,000.

Transcribed Image Text:

Debit Credit Cash .. . Due from Other Funds .. 30,000 40,000 10,000 12,000 30,000 35,000 138,000 $215,000 Accumulated Depreciation-Building …··· Accumulated Depreciation -Equipment $215,000