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’s pre-closing trial balance for the current fiscal year is as follows:

The following information, not yet reflected in the pre-closing figures above, applies to the current fiscal year:
1. Supplies were purchased on account for $92,000; the perpetual inventory method is used.
2. The cost of supplies used during the year was $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. (At the government-wide level, record the payable amount as Internal Balances.)
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 .....................................127,000

7. Unpaid interfund receivable balances were as follows:

8. Vouchers payable at year-end were $16,000.
9. Closing entries were prepared for the Central Garage Fund (ignore government wide closing entry).

Required
a. Prepare journal entries to record all of the transactions for this period in the Central Garage Fund accounts and in the governmental activities accounts. Assume all expenses at the government-wide level are charged to the General Government function.

b. Prepare a statement of revenues, expenses, and changes in fund net position for the Central Garage Fund for the period.
c. Prepare a statement of net position for the Central Garage Fund as of year-end.
d. Explain what the Central Garage Fund would need to report at the governmental activities level, and where the information would be reported.

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Debits Credits $110,000 Cash 9,000 Due from Other Funds Inventory of Supplies 90,000 Land 50,000 250,000 Building Allowance for Depreciation-Building $ 20,000 Machinery and Equipment Allowance for Depreciation-Machinery and Equipment Vouchers Payable 65,000 12,000 31,000 333,000 Net Position-Net Investment in Capital Assets Net Position-Unrestricted 178,000 $574,000 $574,000 End of Year Beginning of Year General Fund Special Revenue Fund $2,500 $3,000 6,500 9,000