The following questions are independent questions: 21. The water utility fund of the City of Pikesville uses cycle billing procedures. Under these procedures, the City of Pikesville will likely do which of the following on December 31. the end of its fiscal year? A. Read meters and bill all customers on December 31. B. Accrue revenue and a receivable for the number of days from the last billing date for each customer until December 31. C. Ignore water consumed by customers from their last billing date until December 31. D. Call the unbilled customers and request that they read their own meters. 22. Sales revenues of a utility for a certain fiscal period: A. Are equivalent to total debits to Customer Accounts Receivable for that period. B. Include receivables billed during a fiscal period, plus receivables billed early in the next year if meters were read before year-end. C. Should be reportell on the cash basis for the sake of conservatism. D. Include billed receivables and an accrual for unbilled receivables as of the balance sheet date. 23. When a new utility customer submits a deposit, the enterprise fund journal entry will include: A. A credit to Customer Deposits. B. A debit to Customer Deposits. C. A debit to Sales of Water. D. A credit to Sales of Water, 24. To establish a new internal service fund with a transfer of funds (not to be repaid), which account would be credited in the internal service fund? A. Cash. B. Interfund Transfer In. C. Interfund Transfer Out. D. Estimated Revenues. 25. What amount of the following items should be accounted for in an internal service fund? Warehouse equipment used to store supplies for delivery to all city departments and agencies on a cost-reimbursement basis $350,000 2.100.000 Equipment used for supplying electric power to residents Receivables for completed sidewalks to be paid for in installments by affected property owners. Construction was financed by special assessment bonds for which the town has no liability 1.760.000 Cash received from federal government dedicated to highway manance, that must be accounted for in a separate fund 1.640,000 A. $2,100,000 B. $1,760,000. C. $1,640,000 D. $350.000 26. Which of the following activities or services would most likely not be accounted for by an internal service fund? A. Electronic data processing. B. Central purchasing, warehousing, and issuing of supplies. C Municipal golf course. D. Risk management. 27. Which of the following is a difference between enterprise funds and internal service funds? A. The use of cost accounting by enterprise funds but not internal service funds. B. The customers who primarily benefit from the fund's service, C. The number of basic financial statements required. D. The measurement focus on economic resources for enterprise funds and current financial resources for internal service funds The following questions are independent questions: 21. The water utility fund of the City of Pikesville uses cycle billing procedures. Under these procedures, the City of Pikesville will likely do which of the following on December 31. the end of its fiscal year? A. Read meters and bill all customers on December 31. B. Accrue revenue and a receivable for the number of days from the last billing date for each customer until December 31. C. Ignore water consumed by customers from their last billing date until December 31. D. Call the unbilled customers and request that they read their own meters. 22. Sales revenues of a utility for a certain fiscal period: A. Are equivalent to total debits to Customer Accounts Receivable for that period. B. Include receivables billed during a fiscal period, plus receivables billed early in the next year if meters were read before year-end. C. Should be reportell on the cash basis for the sake of conservatism. D. Include billed receivables and an accrual for unbilled receivables as of the balance sheet date. 23. When a new utility customer submits a deposit, the enterprise fund journal entry will include: A. A credit to Customer Deposits. B. A debit to Customer Deposits. C. A debit to Sales of Water. D. A credit to Sales of Water, 24. To establish a new internal service fund with a transfer of funds (not to be repaid), which account would be credited in the internal service fund? A. Cash. B. Interfund Transfer In. C. Interfund Transfer Out. D. Estimated Revenues. 25. What amount of the following items should be accounted for in an internal service fund? Warehouse equipment used to store supplies for delivery to all city departments and agencies on a cost-reimbursement basis $350,000 2.100.000 Equipment used for supplying electric power to residents Receivables for completed sidewalks to be paid for in installments by affected property owners. Construction was financed by special assessment bonds for which the town has no liability 1.760.000 Cash received from federal government dedicated to highway manance, that must be accounted for in a separate fund 1.640,000 A. $2,100,000 B. $1,760,000. C. $1,640,000 D. $350.000 26. Which of the following activities or services would most likely not be accounted for by an internal service fund? A. Electronic data processing. B. Central purchasing, warehousing, and issuing of supplies. C Municipal golf course. D. Risk management. 27. Which of the following is a difference between enterprise funds and internal service funds? A. The use of cost accounting by enterprise funds but not internal service funds. B. The customers who primarily benefit from the fund's service, C. The number of basic financial statements required. D. The measurement focus on economic resources for enterprise funds and current financial resources for internal service funds