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6 months ago
The accounts listed below are taken from an Internal Service Fund adjusted trial balance (all amounts are in thousands):

Accounts    Debit   Credit
 Accounts Payable        $44
 Accumulated Depreciation – Buildings        200
 Accumulated Depreciation – Furniture and Equipment        210
 Billings to Departments        981
 Buildings    $319   
 Capital Contribution        60
 Cash    243   
 Construction in Progress    20   
 Depreciation Expense    50   
 Due from Other Funds    60   
 Due to Other Funds        24
 Net Position, July 1, 20X2       729
 Interest Expense    11   
 Interest Revenue        15
 Investments    160   
 Land    120   
 Maintenance Expense    35   
 Mortgage Payable        50
 Personnel Services Expense    630   
 Restricted Cash – Construction    90   
 Supplies Expense    251   
 Supplies Inventory    73   
 Transfer from General Fund        75
 Furniture and Equipment    326   
    $2,388   $2,388

Requirements:   Prepare Statement of Fund Net Position and Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended June 30, 20X3, for the City of Bell Buckle.
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Using: Governmental and Nonprofit Accounting: Theory and Practice, 11e (Freeman)
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