(Correcting a trial balance) The bookkeeper of Clearview City recently quit. The clerks working in the records...

Question:

(Correcting a trial balance) The bookkeeper of Clearview City recently quit. The clerks working in the records department prepared the trial balance, based on the following infor- mation in the accounts.

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Clearview City Enterprise Fund Waldon Swimming Pool Fund Trial Balance June 30, 2004 Cash $210,000 Prepaid expenses 1,400 Accounts receivable 303,164 Supplies inventory 6,000 Due from other funds’ -0-
Property, plant, and equipment 8,189,655 Accumulated depreciation $2,500,000 Accounts payable 681,786 Due to other funds 74,000 Revenue bonds payable 396,000 Net assets 5,121,048 Revenue ~ 1,147,705 Operating expenses 748,120 Administrative expenses 257,400 Maintenance expenses 204,800 $9,920,539 $9,920,539 Your review of the financial records revealed the following:
1. Accounts payable included the following:
Due to other funds $10,000 2. Accounts receivable includes $100 that is actually a receivable from other governmental funds.
3. Supplies of $300 purchased on credit and received on June 27, 2004, were not recorded in the accounting records.
4. Depreciation was not recorded for 2004. The proper amount was $100,000.
Assume that the city treats depreciation as an operating expense.
5. The General Fund owes the Enterprise Fund $500 for services rendered in 2004. The previous bookkeeper recorded revenue from the General Fund only when cash was received; therefore, the $500 has not been recorded.
Required: Prepare adjusting journal entries and an adjusted trial balance for the Waldon Swimming Pool Fund.