City of Monroe

profileProfArgeol
proprietary_funds_template.xls
Home>Business & Finance homework help>Accounting homework help>City of Monroe

Stores & Services Fund

STORES AND SERVICES INTERNAL SERVICE FUND
INVENTORY OF DUE FROM
reference Account Titles Debits Credits CASH SUPPLIES OTHER FUNDS LAND
bb 12,000 bb 50,000 bb 25,000 bb bb 15,000
6-C-1 1 No journal entry
12,000 50,000 25,000 15,000
ACCUMULATED DEPR' ACCUMULATED DEPR'
BUILDINGS BUILDINGS EQUIPMENT EQUIPMENT
bb 44,000 11,000 bb bb 21,000 10,500 bb
44,000 11,000 21,000 10,500
ADVANCE FROM NET POSITION
ACCOUNTS PAYABLE ENTERPRISE FUND ( beginning)
7,500 bb 30,000 bb 108,000 bb
7,500 30,000 108,000
REVENUES - CHARGES OPERATING EXPENSES OPERATING EXPENSES OPERATING EXPENSES
FOR SALES & SERVICES COST OF SALES & SERVs ADMINISTRATION DEPRECIATION
- - - -
&L&16City of Monroe Stores & Services Internal Service Fund&C&16

Water & Sewer Fund

WATER AND SEWER ENTERPRISE FUND
CASH CUSTOMER ESTIMATED DUE FROM
reference Account Titles Debits Credits bb 111,200 ACCOUNTS RECEIVABLE UNCOLLECTIBLE ACCNTS GENERAL FUND
bb 113,000 2,260 bb bb
6-C-2 1
111,200 113,000 2,260 -
MATERIALS & SUPPLIES ADVANCE TO SUPPLIES ACCUMULATED DEPR'
INVENTORIES AND STORES FUND UTILITY PLANT - UTILITY PLANT
bb 72,400 bb 30,000 bb 4,135,200 692,600 bb
72,400 30,000 4,135,200 692,600
CONSTRUCTION PAYROLL
IN PROCESS RESTRICTED ASSETS ACCOUNTS PAYABLE TAXES PAYABLE
bb 215,000 bb 135,000 116,000 bb - bb
215,000 135,000 116,000 -
DUE TO STORES REVENUE NET POSITION REVENUES - CHARGES
RESERVE FOR ENCUMBRANCES & SERVICES FUND BONDS PAYABLE ( beginning) FOR SALES & SERVICES
bb 2,300,000 bb 1,700,940 bb - 1
- 2,300,000 1,700,940 -
OPERATING EXPENSES OPERATING EXPENSES OPERATING EXPENSES OPERATING EXPENSES
COST OF SALES & SERVs SELLING ADMINISTRATION DEPRECIATION
- - - -
NON- OPERATING EXPENSES
INTEREST
-
&L&"Arial,Bold"&14City of Monroe - Water and Sewer Enterprise Fund

Closing Entries

Stores and Services Internal Service Fund Closing Entry
Account Title Debits Credits NET POSITION
108,000 Preclosing
closing entry
108,000
Net investment in capital assets Restricted Unrestricted Total
Net investment in capital assets
Capital Assets -
Less: Accumulated Depreciation -
Less: Advance from Enterprise fund -
Restricted -
Unrestricted -
- - - -
Water and Sewer Enterprise Fund Closing Entry
Account Title Debits Credits NET POSITION
1,700,940 Preclosing
closing entry
1,700,940
Net investment in capital assets Restricted Unrestricted Total
Net investment in capital assets
Capital Assets -
Less: Accumulated Depreciation -
Less: Revenue Bond Payable -
Restricted -
Unrestricted -
- - - -
&L&14City of Monroe&C&14 PROPRIETARY FUNDS- Closing Entries

Stmt of revenues & expenses

Business-Type Activities Enterprise Funds Water and Sewer Governmental Activities Internal Service Funds
Operating Revenues
Charges for Services
Total Current Assets - -
Operating Expenses
Cost of Sales and Services
Selling
Administration
Depreciation
Total Operating Expenses - -
Operting Income - -
Nonoperating Expenses
Interest Expense
Change in Net Position - -
Net Position, January 1
Net Position, December 31 $ - $ -
&L&"Times New Roman,Regular"&14City of Monroe Statement of Revenues, Expenses and Changes in Fund Net Position Proprietary-type Funds For the year ended December 31, 2014

Stmt of net position

Business-Type Activities Enterprise Funds Water and Sewer Governmental Activities Internal Service Funds
Assets
Current Assets
Cash
Customer Accounts Receivable (Net)
Due from Other Funds
Inventories
Total Current Assets - -
Noncurrent Assets
Advance to Stores and Services Fund
Restricted Assets
Capital Assets, Net of Accumulated Depreciation
Total Noncurrent Assets - -
Total Assets - -
Liabilities
Current Liabilities
Accounts Payable
Payroll Taxes Payable
Due to Internal Service Fund
Total Current Liabilities - -
Noncurrent Liabilities
Revenue Bonds Payable
Advance from Water Utility Fund
Total Noncurrent Liabilities - -
Total Liabilities - -
Net Position
Net investment in capital assets
Restricted
Unrestricted
Total Net Position $ - $ -
&L&"Times New Roman,Regular"&14City of Monroe Statement of Net Position Proprietary-type Funds As of December 31, 2014

Stmt of Cash Flows

Business-Type Activities Enterprise Funds Water and Sewer Governmental Activities Internal Service Funds
Cash Flows from Operating Activities
Cash Received from Customers and Departments
Cash Paid to Suppliers and Employees
Net Cash Provided by Operating Activities - -
Cash Flows from Capital Related Financing Activities
Acquisition of Capital Assets
Interest Paid on Long-term Debt
Partial Repayment of Advance from Enterprise Fund
Net Cash Used in Capital Related Financing Activities - -
Cash Flows from Investing Activities
Partial Receipt of Advance to Internal Service Fund
Net Cash Provided from Investing Activities - -
Net Increase in Cash - -
Cash and Restricted Cash, January 1
Cash and Restricted Cash, December 31 $ - $ -
Reconciliation of Operating Income to Net Cash Provided by Operating Activities
Operating Income
Adjustments to Reconcile Operating Income to Net Cash Provided by Operating Actitities
Depreciation
(Increase) Decrease in Customer Accounts Receivable
(Increase)Decrease in Interfund Receivables
(Increase) Decrease in Inventories
Increase (Decrease) in Accounts Payable
Increase (Decrease) in Payroll Taxes Payable
Increase (Decrease) in Interfund Liabilities
Net Cash Provided by Operating Activities $ - $ -
&L&"Arial,Bold"City of Monroe Statement of Cash Flows Proprietary-type Funds For the year ended December 31, 2014