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Washington City created an Information Technology department four years ago to centralize information technology (IT) functions for the city. The goal of the department was to reduce costs, avoid duplication of efforts, and provide up-to-date technology to all of the citys operations. The fund was designed to be self-supporting; that is, all costs are to be recovered through user fees, but any excess of fees over expenses should be less than 5 percent. The preclosing trial balance for the IT department as of last year, is shown below.

	Debits				Credits
	(in thousands)
Cash	$	14,500
Due from Other Funds		4,250
Materials and Supplies Inventory		350
Machinery and Equipment		53,600
Accumulated Depreciation					$	30,100
Accounts Payable						2,550
Due to Federal Government						2,650
Due to Other Funds						1,200
Net PositionNet Investment in Capital Assets						23,500
Net PositionUnrestricted						12,700
	$	72,700			$	72,700

During the current fiscal year ended December 31, the following transactions (summarized in thousands of dollars) occurred:

Gross employee wages were $57,600, including the employers share of social security taxes amounting to $4,100. Federal income and social security taxes withheld from that amount totaled $18,725.

Office expenses in the amount of $3,700 were paid in cash.

Materials and supplies purchased on account during the year were $8,400.

A bill totaling $14,525 was received for utilities provided by Washington Citys utility fund.

Cash paid to the federal government for payroll taxes was $23,000.

Cash paid to the Utility Fund was $14,500.

Accounts payable at year-end totaled $2,950.

Materials and supplies used during the year were $8,250.

Charges to departments during the fiscal year were as follows:

General Fund	$	57,500
Special Revenue Fund		20,600

10. Unpaid balances at year-end were:

General Fund	$	3,500
Special Revenue Fund		1,800

11. The depreciation for the year was $6,100. 12. Revenue and expense accounts for the year were closed. Required

a-1. Prepare journal entries for the Information Technology Fund for the current year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.)

Record the $57,600 payment of employee wages, including $4,100 for employers share of social security taxes and $18,725 withheld for Federal income and social security taxes.

Record the $3,700 Office expenses paid in cash.

Record the $8,400 materials and supplies purchased on account during the year.

Record the $14,525 received for utilities provided by Washington Citys utility fund.

Record the $23,000 payroll taxes paid to federal government.

Record the $14,500 payment to the Utility Fund.

Record the payment of cash if accounts payable at year end totaled $2,950.

Record the $8,250 materials and supplies used during the year.

Record the billing to departments.

Record the cash received from other funds.

Record the depreciation of $6,100 for the year.

a-2. Prepare closing entry for the Information Technology Fund for the current year ended December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands of dollars.)

Record the closure of revenue and expense accounts.

Record the closure of excess of cost over net billings for the year to net positionUnrestricted.

Record the transfer of depreciation expense to the asset account.

a-3. Prepare a statement of revenues, expenses, and changes in fund net position for the Information Technology Fund for the current year ended December 31. (Enter your answers in thousands of dollars.)

a-4Prepare a statement of net position for the Information Technology Fund as of December 31. (Enter your answers in thousands of dollars.)

a-5Prepare a statement of cash flows for the Information Technology Fund for the current year ended December 31. (Cash outflows should be indicated by a minus sign. Enter your answers in thousands of dollars.)