Advanced Accounting 11th Edition by Paul Fischer,William Tayler, Rita Cheng

تمرين 14

Enterprise fund. Prepare journal entries to record the following events in the city of Rosewood's Water Commission enterprise fund:
a. From its general fund revenues, the city transferred $300,000, which is restricted for the drilling of additional wells. b. Billings for water consumption for the month totaled $287,000, including $67,000 billed to other funds within the city.
c. The Water Commission collected $42,000 from other funds and $190,000 from other users on billings in item (b).
d. To raise additional funds, the utility issued $700,000 of 5%, 10-year revenue bonds at face value. Proceeds are restricted to the development of wells.
e. The contract with the well driller showed an estimated cost of $930,000.
f. The well driller bills $360,000 at year-end. g. The utility pays a $300,000 bill from the well driller.