Required information [The following information applies to the questions displayed below.) The City of Ashville operates an internal service fund to provide garage space and repairs for all city-owned-and-operated vehicles. The Central Garage Fund's preclosing trial balance for the current fiscal year is as follows: Credits Debits $161,300 14,100 132,000 73,500 366,500 Cash Due from Other Funds Inventory of Supplies Land Building Allowance for Depreciation-Building Machinery and Equipment Allowance for Depreciation Machinery and Equipment Vouchers Payable Net Position-Net Investment in Capital Assets Net Position-Unrestricted $ 29, 300 95,200 17,600 45,500 488,300 261,900 $842,600 $842,600 The following information, not yet reflected in the preclosing figures above, applies to the current fiscal year. 1. Supplies were purchased on account for $134,900; the perpetual inventory method is used. 2. The cost of supplies used during the year was $161,300. A physical count taken as of that date showed materials and supplies on hand totaled $105,600 at cost. 3. Salaries and wages paid to employees totaled $344,700, including related costs. 4. Billings totaling $44,000 were received from the enterprise fund for utility charges. The Central Garage Fund paid $39,600 of the amount owed. (At the government-wide level, record the payable amount as Internal Balances.) 5. Depreciation of the building was recorded in the amount of $14.700 depreciation of the machinery and equipment amounted to $13,200. 6. Billings to other departments for services provided to them were as follows: Le Town information, not yet rellected in the preciosing figures above 1. Supplies were purchased on account for $134,900; the perpetual inventory method is used 2. The cost of supplies used during the year was $161.300. A physical count taken as of that date showed mat supplies on hand totaled $105,600 at cost. 3. Salaries and wages paid to employees totaled $344.700, including related costs. 4. Billings totaling $44.000 were received from the enterprise fund for utility charges. The Central Garage Ful $39.600 of the amount owed. (At the government-wide level, record the payable amount as internal Balan 5. Depreciation of the building was recorded in the amount of $14.700: depreciation of the machinery and eq amounted to $13.200. 6. Billings to other departments for services provided to them were as follows: General Fund Special Revenue Fund $396,000 186,300 7 Unpaid interfund receivable balances were as follows: End of Beginning of Year $ 3,900 10,200 $ General Fund Special Revenue Fund 4,400 14,100 8. Vouchers payable at year-end were $23,500. 9. Closing entries were prepared for the Central Garage Fund (ignore government-wide closing entry) quired Assume all expenses at the government-wide level are charged to the General Government function. Prep w wwmantral Garane Fund accounts and in the governmental Required a-1. Assume all expenses at the government-wide level are charged to the General Government function. Prepare journal entries to record all of the transactions for this period in the Central Garage Fund accounts and in the governmental activities accounts (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Debit Credit Transaction Fund / Governmental Activies General Journal 1. Supplies were purchased on account for $134.900; the perpetual inventory method is used. 1 Internal Service Fund Governmental Activities 2. The cost of supplies used during the year was $161,300. A physical count taken as of that date showed materials and supplies on hand totaled $105,600 at cost Internal Service Fund Inventory of Supplies 161,300 Vouchers Payable 161,300 Governmental Activities 3. Salaries and wages paid to employees totaled $344,700, including related costs Internal Service Fund Governmental Activities 4. Billings totaling $44,000 were received from the enterprise fund for utility charges. The Central Garage Fund paid $39,600 of the amount owed (Al the government-wide level record the payable amount as Internal Balances) 4. Billings totaling $44,000 were received from the enterprise fund for utility charges. The Central Garage Fund paid $39,600 of the amount owed. (At the government-wide level, record the payable amount as Internal Balances) 4 Internal Service Fund Governmental Activities 5. Depreciation of the building was recorded in the amount of $14,700; depreciation of the machinery and equipment amounted to $13.200. 5 Internal Service Fund ces Governmental Activities 6. Record the billings to other departments 6 Internal Service Fund Governmental Activities 7. Record the dues received from other funds Internal Service Fund 6. Record the billings to other departments Internal Service Fund Governmental Activities 7 Record the dues received from other funds. Internal Service Fund Governmental Activities 8 Vouchers payable at year-end were $23,500 Internal Service Fund Governmental Activities a-2. Prepare closing entries for the Central Garage Fund (ignore government-wide closing entry). (if no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) Debit Credit Transaction Fond / Governmental Activties General Journal 9. Closing entries were prepared for the Central Garage Fund (ignore government-wide closing entry) 9a Internal Service Fund Prepare the closing entry for the expenses Record the operating loss/profit for the year. Record the net change in investment in capital assets