Please provide the solution for E.9-7.

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388 CHAPTER9/BUSINESS-TYPE its insurance activities in an int is self-insured and accounts for its insue ud Caub Aogs ofa goterzment must be presentrol in foaur currteris gmillion in premiums from all of the sted a to e Soermemust be presented in four categories, its general fund. Each of the insurers coll ratber than the tbree used by businesses PROBLEM or cash flows of Grand Junction's inter- each paid out $8 million in actual claims th Prepare the journal entry that each of the owing list of cash flows was taken from insures, including the city utility fund e statement nal service P. 9-1 Enterprise fund nevertbeless, the witn all amounts expressed in thousands):held in reserve for major catastrophes Cash on hand at beginning of year 45 funds should make to record its ins insurance payment Interest from investments for the year. Comment on any diff Wages and salaries paid Purchases of supplies (1,650) 6,380 E. 9-8 January 1 to p ment. It acco Collections (for services) from other funds Interest on long-term debt Repayment of loans to other funds Purchase of capital assets Proceeds of revenue bonds Purchases of investments Proceeds from sale of capital assets Proceeds from sale of investments Loans from other funds (150) Landfill expenses depend on estimates that ma (880) to year cbangs from ya In 2011 Marquette County opened a landfill tba 800 expected to accept waste for four years. Teflw aa (440) indicates the estimates county officials made atb 23 each of the four years: I. It issued S 2. For $4,5 of the pr the end di Capacity Recast the list into a statement of cash flows, adding a Year cubic feet) cubic feet)dollari line for cash on hand at the end of the year. Used This Year C Capacity(millions of (milions of 4. It billed 10 5. It bille 2012 The insurance expense recognized by an enterprise fund depends 2013 12 n the type of carrier 2014 12 4 6. It inc The water and wastewater utility (enterprise) funds f three cities each paid S1 million in casualty insurance remiums. City A is insured by a small independent insur- nce company. City B is self-insured and accounts for Determine the total expected closure costs ($10 ml lion) that should be assigned to each of the landfill accepts waste St NTINUING PROBLEM b. eview the comprehensive annual financial report (CAFR)accumulated significant net asset balances over the years ou obtained. d. not invested in capital assets? Indicate the activities accounted for in both internal 4. Were any of the government's enterprise funds "pro- service funds and major enterprise funds. Comment on itable" during the year? If so, what has the government whether any of these activities could also have been one with the "earnings"? Has it transferred them to the general fund? accounted for in a general or other governmental fund. ow are the internal service fund activities reported in that are related to business-type activities? It 5. Does the government have revenue bonds outstanding the government-wide statement of net assets? How are they reported in the proprietary funds statement of net 6. Do the financial statements include m what activities tement of cash Did any of the internal service funds report significant the cash flows perating surpluses or deficits for the year? Were any an indirect basis? tows for proprietary funds? In how many categones a presented? Is the statement on a direct on 388 CHAPTER9/BUSINESS-TYPE its insurance activities in an int is self-insured and accounts for its insue ud Caub Aogs ofa goterzment must be presentrol in foaur currteris gmillion in premiums from all of the sted a to e Soermemust be presented in four categories, its general fund. Each of the insurers coll ratber than the tbree used by businesses PROBLEM or cash flows of Grand Junction's inter- each paid out $8 million in actual claims th Prepare the journal entry that each of the owing list of cash flows was taken from insures, including the city utility fund e statement nal service P. 9-1 Enterprise fund nevertbeless, the witn all amounts expressed in thousands):held in reserve for major catastrophes Cash on hand at beginning of year 45 funds should make to record its ins insurance payment Interest from investments for the year. Comment on any diff Wages and salaries paid Purchases of supplies (1,650) 6,380 E. 9-8 January 1 to p ment. It acco Collections (for services) from other funds Interest on long-term debt Repayment of loans to other funds Purchase of capital assets Proceeds of revenue bonds Purchases of investments Proceeds from sale of capital assets Proceeds from sale of investments Loans from other funds (150) Landfill expenses depend on estimates that ma (880) to year cbangs from ya In 2011 Marquette County opened a landfill tba 800 expected to accept waste for four years. Teflw aa (440) indicates the estimates county officials made atb 23 each of the four years: I. It issued S 2. For $4,5 of the pr the end di Capacity Recast the list into a statement of cash flows, adding a Year cubic feet) cubic feet)dollari line for cash on hand at the end of the year. Used This Year C Capacity(millions of (milions of 4. It billed 10 5. It bille 2012 The insurance expense recognized by an enterprise fund depends 2013 12 n the type of carrier 2014 12 4 6. It inc The water and wastewater utility (enterprise) funds f three cities each paid S1 million in casualty insurance remiums. City A is insured by a small independent insur- nce company. City B is self-insured and accounts for Determine the total expected closure costs ($10 ml lion) that should be assigned to each of the landfill accepts waste St NTINUING PROBLEM b. eview the comprehensive annual financial report (CAFR)accumulated significant net asset balances over the years ou obtained. d. not invested in capital assets? Indicate the activities accounted for in both internal 4. Were any of the government's enterprise funds "pro- service funds and major enterprise funds. Comment on itable" during the year? If so, what has the government whether any of these activities could also have been one with the "earnings"? Has it transferred them to the general fund? accounted for in a general or other governmental fund. ow are the internal service fund activities reported in that are related to business-type activities? It 5. Does the government have revenue bonds outstanding the government-wide statement of net assets? How are they reported in the proprietary funds statement of net 6. Do the financial statements include m what activities tement of cash Did any of the internal service funds report significant the cash flows perating surpluses or deficits for the year? Were any an indirect basis? tows for proprietary funds? In how many categones a presented? Is the statement on a direct on