Preparation of internal service fund statements
Comparative adjusted trial balances for the motor pool of Douwe County at June 30, 2011, and June 30, 2012, are as follows:
|
June 30, 2012 |
June 30, 2011 |
|
|
Cash |
$ 37,000 |
$ 44,000 |
|
Due from general fund |
— |
8,000 |
|
Due from electric fund |
4,000 |
3,000 |
|
Supplies on hand |
14,000 |
12,000 |
|
Autos |
99,000 |
80,000 |
|
Supplies used |
68,000 |
60,000 |
|
Salaries expense |
25,000 |
20,000 |
|
Utilities expense |
9,000 |
8,000 |
|
Depreciation expense |
16,000 |
15,000 |
|
Operating transfer to general fund |
12,000 |
— |
|
$284,000 |
$250,000 |
|
|
Accumulated depreciation—autos |
$ 56,000 |
$ 40,000 |
|
Accounts payable |
11,000 |
10,000 |
|
Advance from general fund (current) |
5,000 |
5,000 |
|
Contribution from general fund |
50,000 |
50,000 |
|
Net assets (beginning) |
42,000 |
35,000 |
|
Revenue from billings |
120,000 |
110,000 |
|
$284,000 |
$250,000 |
REQUIRED: Prepare fund financial statements for the motor pool for the year ended June 30, 2012. (The statement of cash flows is to be included.)