Augusta has a municipal water and gas utility district (MUD). The trial balance on January 1, 20X1, follows: Cash Accounts Receivable Inventory of Supplies Land Plant and Equipment Accumulated Depreciation Vouchers Payable Bonds Payable, 6% Net Position: Invested in Capital Assets, Net of Related Debt Unrestricted Total Additional Information for 20X1: Debit $ 93,100 26,100 8,500 Credit 121,600 488,000 $ 81,000 16,500 510,000 18,600 111,200 $737,300 $737,300 1. Charges to customers for water and gas were $420,200; collections were $433,800. 2. A loan of $30,600 for two years was received from the general fund. 3. The water and gas lines were extended to a new development at a cost of $76,700. The contractor was paid. 4. Supplies were acquired from central stores (internal service fund) for $12,800. Operating expenses were $328,200, and interest expense was $30,600. Payment was made for the interest and the payable to central stores, and $326,700 of the vouchers were paid. 5. Adjusting entries were as follows: estimated uncollectible accounts receivable, $8,100; depreciation expense, $33,900; and supplies expense, $17,000. Required: a. Prepare entries for the MUD enterprise fund for 20X1 and closing entries. b. Prepare a statement of net position for the fund for December 31, 20X1. c. Prepare a statement of revenues, expenses, and changes in fund net position for 20X1. Assume that the $510,000 of the 6 percent bonds is related to the net capital assets of land and of plant and equipment. d. Prepare a statement of cash flows for 20X1.

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City A has the following financial data. What is the Net Asset Ratio?   Cash: $ 4,650; Cash Equivalents: $12,350; Market Securities: $3,462; Receivables: $ 12,409; Current Liabilities: $45,690; Net Assets: $139,450; Total Assets: $2,458,360; Total Revenues: $1,367,809; Total Expenditures: $1,450,098; Population: 1,670.

As loan analyst for Waterway Bank, you have been presented the following information. Toulouse Co. Lautrec Co. Assets Cash $114,000 $328,000 Receivables 230,000 296,000 Inventories 582,000 493,000 Total current assets 926,000 1,117,000 Other assets 493,000 607,000 Total assets $1,419,000 $1,724,000 Liabilities and Stockholders' Equity Current liabilities $314,000 $340,000 Long-term liabilities 385,000 493,000 Capital stock and retained earnings 720,000 891,000 Total liabilities and stockholders' equity $1,419,000 $1,724,000 Annual sales $911,000 $1,440,000 Rate of gross profit on sales 30 % 40 % Each of these companies has requested a loan of $50,000 for 6 months with no collateral offered. Because your bank has reached its quota for loans of this type, only one of these requests is to be granted. Compute the various ratios for each company. (Round answer to 2 decimal places, e.g. 2.25.) Toulouse Co. Lautrec Co. Current ratio :1 :1 Acid-test ratio :1 :1 Accounts receivable turnover…

Cash receipts totaled $875,000 for property taxes and $292,500 from other revenue. Note: Enter debits before credits.         Transaction General Journal Debit Credit 04                                             .

Consider the following balance sheet for Northern Highland Credit Union (NHCU) before answering parts (i) through (v). Assets ($ million) $ Liabilities  ($ million) $ Cash 30 Overnight interbank borrowing (7.00%) 160 T-notes 2 month (7.05%) 60 2-year CD (5%) 20 T-notes 3 months (7.25%) 80 7 year fixed rate Subordinated debt (8.55%) 150 T-notes two-year (7.50%) 60 Equity 25 T-notes 10-year (8.96%) 100     Corporate bonds (>5 years to maturity) 25     Total assets 355 Total liabilities and Equity 355   What is the repricing (funding) gap over the 0-to-6 months maturity bucket?

Assume that on January 1, First Union Co. purchases for cash a $400,000 of Medford City 5% bond at 100 plus accrued interest of $4,500 as an investment on January 1. What accounts would be debited for the $4,500 in the journal entry to record the investment? DATE DESCRIPTION PREF DEBIT CREDIT Jan. 1 (?) $400,000 (?) 4,500 (?) 404,500 Investment in Medford City Bonds Interest receivable Cash Interest revenue O000