1. The beginning balance for cash and cash equivalents was $85,410 and for restricted cash was $12,426. 2. The utility collected $2,500 in customer deposits throughout the year. Deposits of $1,100 were returned, and accounts of $200 were written off 3. Cash paid to vendors totaled $20,101, while cash paid to employees was $35,100. 4. The utility repaid revenue bonds restricted for capital acquisitions in the amount of $17,830 and Issued new debt of $16,060 to acquire new equipment. Equipment costing $8,490 was purchased for cash during the year. 5. Cash receipts came from customers, $112,781; Interest on Investments, $955; a transfer from the General Fund, $5,000; and Interest on customer deposits, $625. (Assume that Interest on customer deposits is not restricted.) Required Prepare a statement of cash flows for the Cumberland County Utility Enterprise Fund. (Ignore the reconciliation of operating Income to met cash provided by operating activities because Insufficient Information is provided to complete the reconciliation.) (Cash outflows should be Indicated by a minus sign.)

1. The beginning balance for cash and cash equivalents was $85,410 and for restricted cash was $12,426. 2. The utility collected $2,500 in customer deposits throughout the year. Deposits of $1,100 were returned, and accounts of $200 were written off 3. Cash paid to vendors totaled $20,101, while cash paid to employees was $35,100. 4. The utility repaid revenue bonds restricted for capital acquisitions in the amount of $17,830 and Issued new debt of $16,060 to acquire new equipment. Equipment costing $8,490 was purchased for cash during the year. 5. Cash receipts came from customers, $112,781; Interest on Investments, $955; a transfer from the General Fund, $5,000; and Interest on customer deposits, $625. (Assume that Interest on customer deposits is not restricted.) Required Prepare a statement of cash flows for the Cumberland County Utility Enterprise Fund. (Ignore the reconciliation of operating Income to met cash provided by operating activities because Insufficient Information is provided to complete the reconciliation.) (Cash outflows should be Indicated by a minus sign.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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