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The following balances come from the trial balance of Wilson State College as of the end of the 2017 fiscal year. WILSON STATE COLLEGE Pre-closing
The following balances come from the trial balance of Wilson State College as of the end of the 2017 fiscal year. |
WILSON STATE COLLEGE | ||||||
Pre-closing Trial Balance | ||||||
June 30, 2017 | ||||||
(000s omitted) | ||||||
Debits | Credits | |||||
Cash and Cash Equivalents | $ | 3,643 | ||||
Investments | 32,658 | |||||
Accounts Receivable | 2,176 | |||||
Allowance for Uncollectible Receivables | $ | 152 | ||||
Due from State | 88,341 | |||||
Inventories | 964 | |||||
Cash and Cash EquivalentsRestricted | 7,446 | |||||
InvestmentsRestricted | 79,693 | |||||
Depreciable Capital Assets | 186,560 | |||||
Accumulated Depreciation | 29,180 | |||||
Nondepreciable Assets | 90,504 | |||||
Accounts Payable | 2,333 | |||||
Accrued Liabilities | 2,066 | |||||
Unearned Revenue | 13,974 | |||||
Compensated AbsencesCurrent Portion | 1,561 | |||||
Bonds Payable | 93,496 | |||||
Compensated Absences | 38,227 | |||||
Net PositionNet Investment in Capital Assets | 161,093 | |||||
Net PositionRestricted for Debt ServiceExpendable | 1,177 | |||||
Net PositionRestricted for Capital ProjectsExpendable | 50,122 | |||||
Net PositionRestricted for EndowmentNonexpendable | 40,649 | |||||
Net PositionUnrestricted | 56,738 | |||||
Tuition and Fees | 30,615 | |||||
Tuition and Fees Discount and Allowances | 7,695 | |||||
Grants and Contracts Revenue | 18,506 | |||||
Auxiliary Enterprise Sales | 14,845 | |||||
Investment Income | 1,775 | |||||
State Appropriations | 45,664 | |||||
Capital Appropriations | 13,005 | |||||
Institutional Support Expenses | 26,718 | |||||
Academic Support Expenses | 59,807 | |||||
Scholarships and Fellowships Expense | 8,429 | |||||
Depreciation Expense | 6,705 | |||||
Interest Expense | 416 | |||||
Auxiliary Enterprise Expenses | 13,423 | |||||
Totals | $ | 615,178 | $ | 615,178 | ||
Information on Cash and Cash Equivalents Activity | ||||||
Beginning Cash Balance | $ | 9,115 | ||||
Received Tuition and Fees (net) | 24,205 | |||||
Received Grants and Contracts | 13,266 | |||||
Received from Auxiliary Enterprises | 14,113 | |||||
Payments to Employees | 59,691 | |||||
Payments to Vendors | 22,261 | |||||
Payments to Students for Scholarships and Fellowships | 7,857 | |||||
Received State Appropriations | 40,899 | |||||
Received Capital Appropriations | 21,058 | |||||
Purchase of Capital Assets | 21,152 | |||||
Interest Paid on Debt | 2,147 | |||||
Interest Income | 1,541 | |||||
Prepare a statement of cash flows for the year ended June 30, 2017. Information on changes in assets and liabilities is as follows: Accounts Receivable (net) increased by $2,941; Due from State decreased by $17,113; Inventories increased by $36; Accounts Payable and Accrued Liabilities increased by $3,070; and Unearned Revenue decreased by $3,325.
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