To create a statement of cash flows for the proprietary fund Please use the...
70.2K
Verified Solution
Link Copied!
Question
Accounting
To create a statement of cash flows for the proprietary fund
Please use the following balances from the Town of Doral Enterprise fund and produce the Statement of Cash Flows for the Proprietary Funds dated December 31, 2016. Cash balance 1/1/16 $0 Supplies purchased in 2016 $ 190,000 Supplies consumed in 2016 $ 120,000 Depreciation Expense $ 80,000 Cash transferred from General Fund (Non-Capital) $ 900,000 Operating Income for 2016 $ 100,000 Charges for Services in 2016 (all cash received) $ 800,000 Paid Bond Interest in 2016 (capital related) $ 60,000 Borrowed cash from local bank $1,000,000 Paid employee salaries $ 300,000 Purchased the following items for cash: Land-$300,000 Building-$400,000 Equipment-$200,000 Land Improvements-$400,000
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
