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
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!
