As of July 1, 2017, the Village of Boiling Springs decided to purchase a privately operated swimming pool and make a swimming pool (enterprise) fund. During the year, the following transactions occurred:

A permanent contribution of $600,000 was received from the general fund.

Revenue bonds were sold at par in the amount of $1,200,000.

Several items were purchased for cash, with a cost breakdown as follows: land, $300,000; building, $400,000, land improvement, $400,000; equipment, $200,000; and supplies, $150,000.

Charges for services amounted to $600,000, all received in cash.

Cash expenses included salaries of $200,000; utilities of $100,000; and interest of $72,000.

Supplies were consumed in the amount of $120,000.

Depreciation was recorded as follows: building, $20,000, land improvement, $20,000; and equipment, $20,000.

The books were closed. Close all accounts to net position.

Required:

Prepare, in good form using the trial balance provided a Statement of Revenues, Expenses, and Changes in Fund Net Position for the Village of Boiling Spring Swimming Pool Fund for the Year Ended June 30, 2018.

Prepare, in good form using the trial balance provided in this module, a Statement of Fund Net Position for the Village of Boiling Springs Swimming Pool Fund as of June 30, 2018.

*******Please use the trial balance and use an excel worksheet to complete the problems. Also, please separate the Assets, Liabilities, and Net Position in the Statement of Fund Net Position into either Enterprise Funds or Internal Service Funds activities.********

*****I attached the trial balance**************

Debit Cash Supplies Credit $ 578,000 30,000 Land 300,000 Land improvements 400,000 Accumulated depreciationland improvements Building $ 20,000 400,000 Accumulated depreciationbuilding Equipment 20,000 200,000 Accumulated depreciationequipment 20,000 Revenue bonds payable 1,200,000 Transfers in 600,000 Operating revenuescharges for services 600,000 Operating expensessalaries 200,000 Operating expensesutilities 100,000 Operating expensessupplies used 120,000 Operating expensesdepreciation Nonoperating expensesinterest 60,000 72,000 $ 2,460,000 $ 2,460,000