Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows:

		Debit				Credit
Cash		$	92,600
Accounts Receivable			25,200
Inventory of Supplies			9,600
Land			120,500
Plant and Equipment			492,000
Accumulated Depreciation						$	81,900
Vouchers Payable							15,900
Bonds Payable, 5%							519,000
Net Position:
Invested in Capital Assets, Net of Related Debt							11,600
Unrestricted							111,500
Total		$	739,900			$	739,900

Additional Information for 20X1:

1. Charges to customers for water and gas were $421,700; collections were $432,400.
2. A loan of $25,950 for two years was received from the general fund.
3. The water and gas lines were extended to a new development at a cost of $76,300. The contractor was paid.
4. Supplies were acquired from central stores (internal service fund) for $12,600. Operating expenses were $328,500, and interest expense was $25,950. Payment was made for the interest and the payable to central stores, and $325,500 of the vouchers were paid.
5. Adjusting entries were as follows: estimated uncollectible accounts receivable, $7,500; depreciation expense, $33,300; and supplies expense, $16,600.

Required: a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare a statement of net position for the fund for December 31, 20X1. (Select the assets account based on the order listed in the question table. Amounts to be deducted should be indicated by minus sign.)

Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows:

		Debit				Credit
Cash		$	92,600
Accounts Receivable			25,200
Inventory of Supplies			9,600
Land			120,500
Plant and Equipment			492,000
Accumulated Depreciation						$	81,900
Vouchers Payable							15,900
Bonds Payable, 5%							519,000
Net Position:
Invested in Capital Assets, Net of Related Debt							11,600
Unrestricted							111,500
Total		$	739,900			$	739,900

Additional Information for 20X1:

1. Charges to customers for water and gas were $421,700; collections were $432,400.
2. A loan of $25,950 for two years was received from the general fund.
3. The water and gas lines were extended to a new development at a cost of $76,300. The contractor was paid.
4. Supplies were acquired from central stores (internal service fund) for $12,600. Operating expenses were $328,500, and interest expense was $25,950. Payment was made for the interest and the payable to central stores, and $325,500 of the vouchers were paid.
5. Adjusting entries were as follows: estimated uncollectible accounts receivable, $7,500; depreciation expense, $33,300; and supplies expense, $16,600.

Required: a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b. Prepare a statement of net position for the fund for December 31, 20X1. (Select the assets account based on the order listed in the question table. Amounts to be deducted should be indicated by minus sign.)

c. Prepare a statement of revenues, expenses, and changes in fund net position for 20X1. Assume that the $519,000 of the 5 percent bonds is related to the net capital assets of land and of plant and equipment.

d. Prepare a statement of cash flows for 20X1. (Amounts to be deducted should be indicated by minus sign.)

b. Prepare a statement of net position for the fund for December 31, 20X1. (Select the assets account based on the order listed in the question table. Amounts to be deducted should be indicated by minus sign.) AUGUSTA MUD Enterprise Fund Statement of Net Position December 31, 20X1 Assets 0 0 Total Assets $ 0 Liabilities Total Liabilities $ Net Position: Total Net Position $ 0 c. Prepare a statement of revenues, expenses, and changes in fund net position for 20X1. Assume that the $519,000 of the 5 percent bonds is related to the net capital assets of land and of plant and equipment. AUGUSTA MUD Enterprise Fund Statement of Revenue, Expenses, and Changes in Fund Net Position For Fiscal Year Ended December 31, 20X1 Revenue: Expenses: 0 $ 0 Non operating Expense: $ 0 Net Position, January 1 Net Position, December 31 0 Statement of Cash Flows For the Year Ended December 31, 20X1 Cash Flows from Operating Activities: $ $ 0 Cash Flows from Noncapital Financing Activities 0 Cash Flows from Capital and Related Financing Activities: 0 Cash Flows from Investing Activities: 0 $ 0 Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Activities: Change in Assets and Liabilities: Change in Assets and Liabilities: Total Adjustments 0 $ 0 b. Prepare a statement of net position for the fund for December 31, 20X1. (Select the assets account based on the order listed in the question table. Amounts to be deducted should be indicated by minus sign.) AUGUSTA MUD Enterprise Fund Statement of Net Position December 31, 20X1 Assets 0 0 Total Assets $ 0 Liabilities Total Liabilities $ Net Position: Total Net Position $ 0 c. Prepare a statement of revenues, expenses, and changes in fund net position for 20X1. Assume that the $519,000 of the 5 percent bonds is related to the net capital assets of land and of plant and equipment. AUGUSTA MUD Enterprise Fund Statement of Revenue, Expenses, and Changes in Fund Net Position For Fiscal Year Ended December 31, 20X1 Revenue: Expenses: 0 $ 0 Non operating Expense: $ 0 Net Position, January 1 Net Position, December 31 0 Statement of Cash Flows For the Year Ended December 31, 20X1 Cash Flows from Operating Activities: $ $ 0 Cash Flows from Noncapital Financing Activities 0 Cash Flows from Capital and Related Financing Activities: 0 Cash Flows from Investing Activities: 0 $ 0 Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Activities: Change in Assets and Liabilities: Change in Assets and Liabilities: Total Adjustments 0 $ 0