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Required information [The following information applies to the questions displayed below.] The Town of Elizabeth operates an old train station as an enterprise fund. The
Required information [The following information applies to the questions displayed below.] The Town of Elizabeth operates an old train station as an enterprise fund. The train station is on the national register of historic buildings. Because the town has held the building for such a long time, the Central Station Fund has no long-term debt. The only capital assets recorded by the Central Station Fund are machinery and equipment. Businesses rent space In the building and the town provides all services related to the operation and maintenance of the building. Following is Information related to the fund's operating activities. 1. Rental Income of $94.444 was accrued. Subsequently, cash in the amount of $90.210 was received on accounts. 2 Cash expenses for the period Included administrative services. $25,205, maintenance and repairs, $72,882: supplies and materials, $7.792 and utilities, $30.124. 3. The Central Station Fund received a $60,000 transfer of funds from the General Fund. 4. An adjusting entry was made for depreciation of $3,519. 5. At the end of the period, nominal accounts were closed. Required a. Prepare general Journal entries to record the Central Station Fund's operating activities for the year. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction Mat X A Rental income of 594,444 was accrued. Cash in the amount of $90,210 was received on accounts. C Cash expenses for the period included: administrative services, $25,205; maintenance and repairs, $72,882; supplies and materials, $7,792: and utilities, $30.124. Credit D The Central Station Fund received a $60,000 transfer of funds from the General Fund. E An adjusting entry was made for depreciation of $3,519. F At the end of the period, nominal accounts were closed. Note : = journal entry has been entered Record entry Clear entry View general Journal
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