The Town of Thomaston has a Solid Waste Landfill Enterprise Fund with the following trial balance as of January 1, 2020, the first day of the fiscal year Debits Credits Cash $ 2,330,000 Supplies Supplies Inventory 80,000 Equipment 7,190,000 Accumulated depreciation $ 2,790,000 Accounts payable 130,000 Accrued closure and postclosure care costs payable 2,080,000 Net position 4,600,000 Totals $ 9,600,000 $ 9,600,000 During the year, the following transactions and events occurred Citizens and trash companies dumped 513,000 tons of waste in the landfill, which charges $5 55 a ton payable in cash Diesel fuel purchases totaled $347,000 (on account) Accounts payable totaling $430,000 were paid Diesel fuel used in operations amounted to $368,000 Depreciation was recorded in the amount of $685,000 Salaries totaling $165,000 were paid Future costs to close the landfill and postclosure care costs are expected to total $81,250,000 The total capacity of the landfill is expected to be 25,000,000 tons of waste Prepare the journal entries, closing entries, and a Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020 Prepare the journal entries, closing entries, and a statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020 Answer is not complete Landfill Enterprise St of Revenues Fund Expenses Prepare a statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020 TOWN OF THOMASTON LANDFILL ENTERPRISE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION FOR THE YEAR ENDED DECEMBER 30, 2020 REVENUES Charges for Services 2 847,150 2,847,150 OPERATING EXPENSES Supplies S 368,000 Depreciation 685 000 Salaries 165,000 Closure and Post closure Care 1,667,250 Other Revenues 0 2 885,250 OPERATING INCOME (LOSS) (38,100) NON OPERATING INCOME (EXPENSES) TOTAL NON OPERATING REVENUE Change in Net Position (38,100) Net Position Beginning of year 4,600,000 Net Position End of year S 2 220,000 0 S 0 X

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The Town of Thomaston has a Solid Waste Landfill Enterprise Fund with the following trial balance as of January 1, 2020, the first day of

The Town of Thomaston has a Solid Waste Landfill Enterprise Fund with the following trial balance as of January 1, 2020, the first day of the fiscal year.

		Debits		Credits
Cash	$	2,330,000
Supplies: Supplies Inventory		80,000
Equipment		7,190,000
Accumulated depreciation			$	2,790,000
Accounts payable				130,000
Accrued closure and postclosure care costs payable				2,080,000
Net position				4,600,000
Totals	$	9,600,000	$	9,600,000

During the year, the following transactions and events occurred:

Citizens and trash companies dumped 513,000 tons of waste in the landfill, which charges $5.55 a ton payable in cash.
Diesel fuel purchases totaled $347,000 (on account).
Accounts payable totaling $430,000 were paid.
Diesel fuel used in operations amounted to $368,000.
Depreciation was recorded in the amount of $685,000.
Salaries totaling $165,000 were paid.
Future costs to close the landfill and postclosure care costs are expected to total $81,250,000. The total capacity of the landfill is expected to be 25,000,000 tons of waste.

Prepare the journal entries, closing entries, and a Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020.

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Prepare the journal entries, closing entries, and a statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020. Answer is not complete. Landfill Enterprise St of Revenues Fund Expenses Prepare a statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31, 2020. TOWN OF THOMASTON LANDFILL ENTERPRISE FUND STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION FOR THE YEAR ENDED DECEMBER 30, 2020 REVENUES Charges for Services 2.847,150 2,847,150 OPERATING EXPENSES Supplies S 368,000 Depreciation 685.000 Salaries 165,000 Closure and Post-closure Care 1,667,250 Other Revenues 0 2.885,250 OPERATING INCOME (LOSS) (38,100) NON-OPERATING INCOME (EXPENSES) TOTAL NON-OPERATING REVENUE Change in Net Position (38,100) Net Position - Beginning of year 4,600,000 Net Position - End of year S 2.220,000 0 S 0 X >