Question
Water Utility Fund 1. Billed General Fund $40,000 for water usage and the citizens of NWTC $285,000 for water usage. 2. Collected $40,000 from General
Water Utility Fund
1. Billed General Fund $40,000 for water usage and the citizens of NWTC $285,000 for water usage.
2. Collected $40,000 from General Fund and $275,000 from citizens from water billings.
3. Received and paid bill from Computer Services Fund of $45,000.
4. Purchased equipment costing $25,000 (paid cash).
5. Paid following bills:
a. Salary and fringes - $100,000
b. Supplies - $10,000
c. Repairs and Maintenance - $15,000
6. Annual depreciation of $70,000 is recorded ($50,000 on building and $20,000 on equipment)
Computer Services Fund
1. Billed General Fund $80,000 ($40,000 for General Government, $20,000 for Public Safety and $20,000 for Public Works) for services and Water Utility Fund $45,000 for services.
2. Purchased Computers & Printers costing $100,000 (paid in cash)
3. General Fund and Water Utility Fund pay bill
4. Paid following expenses:
a. Salary & Fringes - $70,000
b. Repairs/Maintenance - $15,000
c. Supplies - $5,000
5. Annual depreciation expense for computers & printers is $10,000
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