Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Bellevue City's printing shop had the following trial balance on January 1, 20x2 Cash Due from Other Funds Inventory of Supplies Furniture & Equipment Accumulated
Bellevue City's printing shop had the following trial balance on January 1, 20x2 Cash Due from Other Funds Inventory of Supplies Furniture & Equipment Accumulated Depreciation Book Vouchers Payable. Net Assets: nos Invested in Capital Assets (no related debt) Unrestricted Total Debit $ 24,600 15,600 9,800 260,000 Credit $ 50,000 12,000 210,000 38,000 $310,000 $310,000 Additional Information for 20X2 1. During 20X2, the printing shop acquired supplies for $96,000, furniture for $1,500, and a copier for $3,200. 2. Printing jobs billed to other funds amounted to $292,000, cash received from other funds, $287,300; costs of printing jobs, $204,000, including $84,000 of supplies, operating expenses, $38,000, including $8,400 of supplies; depreciation expense. $23,000, and vouchers paid, $243,000. Assets: Printing Shop Fund Statement of Net Position December 31, 20X2 Total Assets Liabilities: Total Liabilities Net Position: Total Assets Liabilities: Total Liabilities Net Position: Total Net position Revenue: BELLEVUE Printing Shop Fund Statement of Revenue, Expenses, and Changes in Fund Net Position For Fiscal Year Ended December 31, 20X2 Expenses: Net Position, January 1 Net Position, December 31 BELLEVUE CITY Internal Service Fund - Printing Shop Statement of Cash Flows For the Year Ended December 31, 20X2 Cash Flows from Operating Activities: Cash Flows from Capital and Related Financing Activities Acquisition of Capital Assets (furniture and copier) Acquisition of Capital Assets (furniture and copier) Reconciliation of Operating Income to Net Cash Provided by Operating Activities: Adjustments to Reconcile Operating Income to Net Cash Used by Operating Activities: Change in Assets and Liabilities: Total Adjustments
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started