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hi, please post answers in chart format for each of the transactions in the list - thank you! please no spam answers Augusta has a
hi, please post answers in chart format for each of the transactions in the list - thank you!
please no spam answers
Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows: Additional Information for 20X1: 1. Charges to customers for water and gas were $421,500; collections were $433,500. 2. A loan of $31,080 for two years was recelved from the general fund. 3. The water and gas lines were extended to a new development at a cost of $75,500. The contractor was paid. 4. Supplies were acquired from central stores (internal service fund) for $12,800. Operating expenses were $328,100, and interest expense was $31,080. Payment was made for the interest and the payable to central stores, and $325,900 of the vouchers were paid. 5. Adjusting entries were as follows: estimated uncollectible accounts receivable, $6,500; depreciation expense, $33,000; ond supplies expense, $16,600. Required: a. Prepare entries for the MUD enterprise fund for 201 and closing entries, (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet A B C D E F B Required: a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. (If no entry "No journal entry required" in the first account field.) A Record the charges to customers. B Record the collections on account. C Record the receipt of Ioan from the General Fund. D Record the extension of the water and gas lines. E Record the payment for the extended lines. F Record the expenses. G Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund. Note : O = journal entry has been entered Required: a. Prepare entries for the MUD enterprise fund for 201 and closing entr "No journal entry required" in the first account field.) G Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund. H Record the entry to reduce the revenue for the uncollectible accounts. I Record the entry to adjust the depreciation for the period. 3. Record the entry for supplies expense to adjust supplies on hand. k Record the entry to close the nominal accounts. L Record the entry to close the profit and loss summary. Note : = journal entry has been entered 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 $518,000 of the 6 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.) Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows: Additional Information for 20X1: 1. Charges to customers for water and gas were $421,500; collections were $433,500. 2. A loan of $31,080 for two years was recelved from the general fund. 3. The water and gas lines were extended to a new development at a cost of $75,500. The contractor was paid. 4. Supplies were acquired from central stores (internal service fund) for $12,800. Operating expenses were $328,100, and interest expense was $31,080. Payment was made for the interest and the payable to central stores, and $325,900 of the vouchers were paid. 5. Adjusting entries were as follows: estimated uncollectible accounts receivable, $6,500; depreciation expense, $33,000; ond supplies expense, $16,600. Required: a. Prepare entries for the MUD enterprise fund for 201 and closing entries, (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet A B C D E F B Required: a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. (If no entry "No journal entry required" in the first account field.) A Record the charges to customers. B Record the collections on account. C Record the receipt of Ioan from the General Fund. D Record the extension of the water and gas lines. E Record the payment for the extended lines. F Record the expenses. G Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund. Note : O = journal entry has been entered Required: a. Prepare entries for the MUD enterprise fund for 201 and closing entr "No journal entry required" in the first account field.) G Record the payment of the approved vouchers, interest, and payment to the Central Stores Fund. H Record the entry to reduce the revenue for the uncollectible accounts. I Record the entry to adjust the depreciation for the period. 3. Record the entry for supplies expense to adjust supplies on hand. k Record the entry to close the nominal accounts. L Record the entry to close the profit and loss summary. Note : = journal entry has been entered 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 $518,000 of the 6 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.) Step by Step Solution
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