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I need help in REQUIREMENT D, the column where it says Decrease in Accounts Receivable where the red X is. The Town of Weston has
I need help in REQUIREMENT D, the column where it says Decrease in Accounts Receivable where the red X is.
The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2019, the first day of the fiscal year: During the year ended June 30,2020 , the following transoctions and events occurred in the Town of Wetton Water Uility Fund 1. Accrued expenses at July 1 were paid in cosh. 2. Billings to nongovernmental customers for water usage for the year amounted to $1,454,000 : bilings to the Genetal Fund amounted to $122,000 3. Liabilites for the following were recorded during the year: 4. Materials and supplies wete used in the anvount of $308,000, all for costs of soles and services. 5. After collection eflorts were unsuccessful $15,300 of old accounts recelvable were written oft. 6. Accounts receivable collections totaled $1,552,000 from nongovernmental customers and $52,300 from the General Fund 7 . S1,18.200 of accounts payable were poid in cash 8. One year's interest in the amount of 5189,300 was paid 9. Construction was completed on plant assets costing $264,000, that amount was transferred to Utility Plant in Service- 10. Depreciation was recorded in the amount of $274,100 11. The Allowance for Uncollectible Accounts was increased by $14,000 12. As requared by the loan agreement, cash in the amount of $116,000 was transferred to Restricted Assets for eventua redempton the bonds 13. Accrued expenses all related to costs of sales and services amounted to $113,000 14. Nominal accounts for the year were closed Required: a. Recoed the transactions for the year in general journal form. b. Prepare o Statement of Revemues, Expenses, and Changes in Fund Net Position c. Prepore a Statement of Net Position as of June 30, 2020. d. Prepare a Statement of Casth Flows for the year ended Jane 30, 2020 . Assume all debt and interest are related to copial outiay Assume the entire construction work in progress liabiny (see item 3) wos paid in entry 7 . Inelude reatricted aseets as cosh and cash equivalents in the reconelilibon, assume the Accounts Receivable is netted against the Alfowance account ( Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a Statement of Cash Flows for the year ended June 30, 2020. Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability (see item 3) was paid in entry 7 . Include restricted assets as ecord the transtactions for the vaur in anharal inumal fawn. Q Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position. Deductions should be entered as a negative amount.) Prepare a Statement of Net Position as of June 30, 2020. (Deductions should be entered as a negative amount.) The Town of Weston has a Water Utility Fund with the following trial balance as of July 1, 2019, the first day of the fiscal year: During the year ended June 30,2020 , the following transoctions and events occurred in the Town of Wetton Water Uility Fund 1. Accrued expenses at July 1 were paid in cosh. 2. Billings to nongovernmental customers for water usage for the year amounted to $1,454,000 : bilings to the Genetal Fund amounted to $122,000 3. Liabilites for the following were recorded during the year: 4. Materials and supplies wete used in the anvount of $308,000, all for costs of soles and services. 5. After collection eflorts were unsuccessful $15,300 of old accounts recelvable were written oft. 6. Accounts receivable collections totaled $1,552,000 from nongovernmental customers and $52,300 from the General Fund 7 . S1,18.200 of accounts payable were poid in cash 8. One year's interest in the amount of 5189,300 was paid 9. Construction was completed on plant assets costing $264,000, that amount was transferred to Utility Plant in Service- 10. Depreciation was recorded in the amount of $274,100 11. The Allowance for Uncollectible Accounts was increased by $14,000 12. As requared by the loan agreement, cash in the amount of $116,000 was transferred to Restricted Assets for eventua redempton the bonds 13. Accrued expenses all related to costs of sales and services amounted to $113,000 14. Nominal accounts for the year were closed Required: a. Recoed the transactions for the year in general journal form. b. Prepare o Statement of Revemues, Expenses, and Changes in Fund Net Position c. Prepore a Statement of Net Position as of June 30, 2020. d. Prepare a Statement of Casth Flows for the year ended Jane 30, 2020 . Assume all debt and interest are related to copial outiay Assume the entire construction work in progress liabiny (see item 3) wos paid in entry 7 . Inelude reatricted aseets as cosh and cash equivalents in the reconelilibon, assume the Accounts Receivable is netted against the Alfowance account ( Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a Statement of Cash Flows for the year ended June 30, 2020. Assume all debt and interest are related to capital outlay. Assume the entire construction work in progress liability (see item 3) was paid in entry 7 . Include restricted assets as ecord the transtactions for the vaur in anharal inumal fawn. Q Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare a Statement of Revenues, Expenses, and Changes in Fund Net Position. Deductions should be entered as a negative amount.) Prepare a Statement of Net Position as of June 30, 2020. (Deductions should be entered as a negative amount.) Step by Step Solution
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