Select the Sources of Funds that would be included on the Statement of Cash Flows. Decrease in Bank Notes Depreciation Capital Expenditures Increase in Investments O Decrease in Investments Increase in Bank Notes Net Income Increase in Accounts Payable Dallas Company had NET sales of $1,000,000 for the year, cost of goods sold of $500,000, and interest expense of $100,000 for last year. What is the Gross Profit if sales were $500,000 for the current year if the relationships remain the same? Calculate the change in retained earnings given the following information: Net Income: $256,000 Cash Dividends: $156,000 What statement describes the performance of the company over a period of time, usually a month, a quarter, or a year? TTT Arial 3(12pt) TEE-S- Os Path: P Words:0 A 5 year fixed asset was purchased on lan 1 of Year 1 and immediately placed into service. The cost was $750,000 and had no salvage value. What is the Net Book Value at the end of year 5 using straight line depreciation? The difference between revenues achieved and expenses incurred is: Net Income Gross Margin Net Income Before Tax Net Loss Revenue is always the same as receiving the cash for products and services. True False What is the portion of prior capital expenditures that has been allocated to the current year and is recorded? Cost of Goods Sold Cash Dividends Depreciation Expense Federal Income Tax The income statement account that states the cost of purchasing goods that are sold to a customer? Gross Margin Revenue Fixed Cost Cost of Goods Sold According to the FY17 Financial Statements for Fairbanks North Star Borough, what is the total Carlson Center Net Cash Provided by (used for) operating activities. Enter as a negative number with no special symbols (ex USE-1000 NOT S-1,000)..HINT answer is negative According to the FY17 FBNSB Annual Report what is the Total Government Activities Expense. Do not use Senter only number (EX USE -1000 or 5000......NOT $5000 or $-5000) FAIRBANKS NORTH STAR BOROUGH Proprietary Funds Statement of Net Position June 30, 2017 Business-type Activities - Enterprise Funds Governmental Activities Internal Service Fund Carlson Center Solid Waste Disposal Transit Total Assets $3,349,676 $234.909 $28,815,545 $32,400,130 $1,647,317 487,453 2,281,651 2,345 19,996 990,640 Current assets Equity in central treasury cash Restricted equity in central treasury cash Accounts receivable Restricted accounts receivable Restricted due from governmental agencies Inventories Other assets Current assets total 2,789,100 992,985 1,368 1,366 775,621 307,596 211,016 775,621 518,612 255,000 37.732,815 255,000 978,728 827 30,037,197 1,648,144 651.269 1.755,535 120,790 3,304, 126 3.190,369 Noncurrent assets Long-term receivables (net of allowance for uncollectibles - $182,250) Capital assets - non-depreciable Land and land improvements Works of art Construction work in progress Capital assets - depreciable Land Buildings 5.284 Improvements other than buildings 610 Equipment 255,190 Accumulated depreciation (6. 578,228) Noncurrent assets (net) total 456,847 55440,778 21,346,731 7,590,206 1.608.028 25,469,928 1.749,137 5,169,206 (10.037,175) (21,774,157) 14,396,543 20.737,600 440,778 32.082,221 28,102,566 13,173,534 (39.289,560) 40,589,990 8,039,127 (4,018,852) 4,020,275 Assets total 50,774.798 78,322,805 5,668,418 Deferred Outflows of Resources Deferred pensions Deferred outflows total Assets and deferred outflows total 574,104 574,104 574,104 574,104 $12.172.736 15,375,271 $51,348,902 $78,896,909 $5,668,418 FAIRBANKS NORTH STAR BOROUGH Sheet 2 of 3 Proprietary Funds Statement of Net Position June 30, 2017 Business-type Activities - Enterprise Funds Governmental Activities Internal Service Fund Transit Carlson Center Solid Waste Disposal Total $104,521 211,308 $1,649 2,107 $1,880,530 79,192 104,112 92,952 218 260,596 4,830 $1,985,051 292,608 104,112 355,986 5,048 11,948 2,438 11.948 60,014 711.587 60,014 711,587 Liabilities Current liabilities Accounts payable Wages and payroll taxes Accrued interest payable Accrued compensated absences Accrued self-insurance losses Interfund payable Payable from restricted assets Accounts payable Interfund payable Capital leases payable Loans payable Current liabilities total Long-term liabilities Accrued compensated absences Accrued self-insurance losses Capital leases payable Net pension obligation Loans payable Landfill closure and postclosure care Long-term liabilities total Liabilities total 499,560 1,876,449 4,033,454 1,878,449 5,402,803 1,352,856 16,493 501,208 99.682 39,575 2,506 138,257 18,839 829,084 2,825,651 2,825,651 7,511,6317.511.631 25,845,289 25,845,289 36,223,652 36,339,667 40,257,106 41,742,470 116.015 829,084 1,330,292 1,468,872 16,493 Deferred Inflows of Resources Deferred pensions Deferred inflows total 31,496 31,496 31,496 31,496 FAIRBANKS NORTH STAR BOROUGH Sheet 3 of 3 Proprietary Funds Statement of Net Position June 30, 2017 Business-type Activities - Enterprise Funds Governmental Activities Internal Service Fund Carlson Center Solid Waste Disposal Transit Total $6,455,847 $14,396,543 $13,118,464 $32,970,856 $2,691,631 488,819 2,285,670 Net Position Net investment in capital assets Restricted for Asset replacement Grants Solid waste collection district Unrestricted (deficit) Net position total Liabilities, deferred inflows and net position total 488,819 2,285,670 19,996 1,357,603 37,122,943 19,996 (2,078,161) 11,060,300 2,962,347 10,703,864 1,646,495 473,416 15,358,778 4,338,126 $12,172,736 $15,375,271 $51,348,902 $5,668,418 Reconciliation to government-wide statement of net position Adjustment to reflect consolidation of internal service fund activities related to enterprise funds 248,342 Net position of business-type activities $37,371,285 Select the Sources of Funds that would be included on the Statement of Cash Flows. Decrease in Bank Notes Depreciation Capital Expenditures Increase in Investments O Decrease in Investments Increase in Bank Notes Net Income Increase in Accounts Payable Dallas Company had NET sales of $1,000,000 for the year, cost of goods sold of $500,000, and interest expense of $100,000 for last year. What is the Gross Profit if sales were $500,000 for the current year if the relationships remain the same? Calculate the change in retained earnings given the following information: Net Income: $256,000 Cash Dividends: $156,000 What statement describes the performance of the company over a period of time, usually a month, a quarter, or a year? TTT Arial 3(12pt) TEE-S- Os Path: P Words:0 A 5 year fixed asset was purchased on lan 1 of Year 1 and immediately placed into service. The cost was $750,000 and had no salvage value. What is the Net Book Value at the end of year 5 using straight line depreciation? The difference between revenues achieved and expenses incurred is: Net Income Gross Margin Net Income Before Tax Net Loss Revenue is always the same as receiving the cash for products and services. True False What is the portion of prior capital expenditures that has been allocated to the current year and is recorded? Cost of Goods Sold Cash Dividends Depreciation Expense Federal Income Tax The income statement account that states the cost of purchasing goods that are sold to a customer? Gross Margin Revenue Fixed Cost Cost of Goods Sold According to the FY17 Financial Statements for Fairbanks North Star Borough, what is the total Carlson Center Net Cash Provided by (used for) operating activities. Enter as a negative number with no special symbols (ex USE-1000 NOT S-1,000)..HINT answer is negative According to the FY17 FBNSB Annual Report what is the Total Government Activities Expense. Do not use Senter only number (EX USE -1000 or 5000......NOT $5000 or $-5000) FAIRBANKS NORTH STAR BOROUGH Proprietary Funds Statement of Net Position June 30, 2017 Business-type Activities - Enterprise Funds Governmental Activities Internal Service Fund Carlson Center Solid Waste Disposal Transit Total Assets $3,349,676 $234.909 $28,815,545 $32,400,130 $1,647,317 487,453 2,281,651 2,345 19,996 990,640 Current assets Equity in central treasury cash Restricted equity in central treasury cash Accounts receivable Restricted accounts receivable Restricted due from governmental agencies Inventories Other assets Current assets total 2,789,100 992,985 1,368 1,366 775,621 307,596 211,016 775,621 518,612 255,000 37.732,815 255,000 978,728 827 30,037,197 1,648,144 651.269 1.755,535 120,790 3,304, 126 3.190,369 Noncurrent assets Long-term receivables (net of allowance for uncollectibles - $182,250) Capital assets - non-depreciable Land and land improvements Works of art Construction work in progress Capital assets - depreciable Land Buildings 5.284 Improvements other than buildings 610 Equipment 255,190 Accumulated depreciation (6. 578,228) Noncurrent assets (net) total 456,847 55440,778 21,346,731 7,590,206 1.608.028 25,469,928 1.749,137 5,169,206 (10.037,175) (21,774,157) 14,396,543 20.737,600 440,778 32.082,221 28,102,566 13,173,534 (39.289,560) 40,589,990 8,039,127 (4,018,852) 4,020,275 Assets total 50,774.798 78,322,805 5,668,418 Deferred Outflows of Resources Deferred pensions Deferred outflows total Assets and deferred outflows total 574,104 574,104 574,104 574,104 $12.172.736 15,375,271 $51,348,902 $78,896,909 $5,668,418 FAIRBANKS NORTH STAR BOROUGH Sheet 2 of 3 Proprietary Funds Statement of Net Position June 30, 2017 Business-type Activities - Enterprise Funds Governmental Activities Internal Service Fund Transit Carlson Center Solid Waste Disposal Total $104,521 211,308 $1,649 2,107 $1,880,530 79,192 104,112 92,952 218 260,596 4,830 $1,985,051 292,608 104,112 355,986 5,048 11,948 2,438 11.948 60,014 711.587 60,014 711,587 Liabilities Current liabilities Accounts payable Wages and payroll taxes Accrued interest payable Accrued compensated absences Accrued self-insurance losses Interfund payable Payable from restricted assets Accounts payable Interfund payable Capital leases payable Loans payable Current liabilities total Long-term liabilities Accrued compensated absences Accrued self-insurance losses Capital leases payable Net pension obligation Loans payable Landfill closure and postclosure care Long-term liabilities total Liabilities total 499,560 1,876,449 4,033,454 1,878,449 5,402,803 1,352,856 16,493 501,208 99.682 39,575 2,506 138,257 18,839 829,084 2,825,651 2,825,651 7,511,6317.511.631 25,845,289 25,845,289 36,223,652 36,339,667 40,257,106 41,742,470 116.015 829,084 1,330,292 1,468,872 16,493 Deferred Inflows of Resources Deferred pensions Deferred inflows total 31,496 31,496 31,496 31,496 FAIRBANKS NORTH STAR BOROUGH Sheet 3 of 3 Proprietary Funds Statement of Net Position June 30, 2017 Business-type Activities - Enterprise Funds Governmental Activities Internal Service Fund Carlson Center Solid Waste Disposal Transit Total $6,455,847 $14,396,543 $13,118,464 $32,970,856 $2,691,631 488,819 2,285,670 Net Position Net investment in capital assets Restricted for Asset replacement Grants Solid waste collection district Unrestricted (deficit) Net position total Liabilities, deferred inflows and net position total 488,819 2,285,670 19,996 1,357,603 37,122,943 19,996 (2,078,161) 11,060,300 2,962,347 10,703,864 1,646,495 473,416 15,358,778 4,338,126 $12,172,736 $15,375,271 $51,348,902 $5,668,418 Reconciliation to government-wide statement of net position Adjustment to reflect consolidation of internal service fund activities related to enterprise funds 248,342 Net position of business-type activities $37,371,285