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AP 3 Net complete Wanted out of 150 P Flat Internal Service Fund Financial Statements At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $20,000,000 (nonrefundable) to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 25%. During the year, the storehouse purchased 518,000,000 of supplies, paid operating expenses of 1,000,000, and billed other funds for $21,250,000. All accounts are settled except $900,000 remaining to be collected from the general fund for supplies billed. Required Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse Enter your answers in thousands. For example, $1,000,000 is $1,000, . Do not use negative signs with any of your answers, City of Wooster Central Supplies Storehouse Statement of Revenues, Expenses, and Changes in Net Position For the Year 2014 in thousands Operating revenue Operating expenses (1) Operating income Capital contributions Change in net position Total net position beginning Total net positionending $ 0 (1) Includes cost of goods sold 0 0 0 0 O City of Wooster Central Supplies Storehouse Statement of Net Position At Fiscal Year End 2014 in thousands) 0 0 Current assets: Cash 5 Due from general fund nary Total assets 5 Net position Unrestricted Total position $ 0 O Check Previous Save Answers Next Questions Not complete Marked out of 15.00 P Hag Question Internal Service Fund Financial Statements At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $20,000,000 (nonrefundable to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 25M. During the year, the storehouse purchased $18,000,000 of supplies, paid operating expenses of $1,000,000, and billed other funds for $21,250,000. All accounts are settled except 5900,000 remaining to be collected from the general fund for supplies billed. Required Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse. Enter your answers in thousands. For example, $1,000,000 is $1,000. . Do not use negative signs with any of your answers. City of Wooster Central Supplies Storehouse Statement of Revenues, Expenses, and Changes in Net Position For the Year 2014 in thousands Operating revenue Operating expenses (1) Operating income Capital contributions Change in ne position Total net position-beginning Totalne position ending $ (1) Includes cost of goods sold $ O 0 0 0 0 0 0 City of Wooster Central Supplies Storehouse Statement of Net Position At Fiscal Year-End 2014 in thousands Current Cash $ Due from general fund Inventory Total 5 Net position Unrestricted Total net position 5 0 0 0 0 0 0 Check Previous Save Answers Next Question 3 Not complete Marked out of 15.00 Flag question Support Internal Service Fund Financial Statements At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $20,000,000 (nonrefundable) to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 25%. During the year, the storehouse purchased $18,000,000 of supplies, paid operating expenses of $1,000,000, and billed other funds for $21,250,000. All accounts are settled except $900,000 remaining to be collected from the general fund for supplies billed. Required Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse. Enter your answers in thousands. For example, $1,000,000 is $1,000, . Do not use negative signs with any of your answers. City of Wooster Central Supplies Storehouse Statement of Revenues, Expenses, and Changes in Net Position For the Year 2014 in thousando Operating revenue Operating expenses (1) 0 Operating income Capital contributions Change in net position 0 Total et position beginning Totale positioning (1) Includes cost of goods sold 0 0 0 0 City of Wooster Central Supplies Storehouse Statement of Net Position At Fiscal Year-End 2014 in thousands Assets Current assets: Cash Dut from general fund Inventory Total assets $ Net position Unrestricted Totalne position $ O 0 0 Check Previous Save Answers Next AP 3 Net complete Wanted out of 150 P Flat Internal Service Fund Financial Statements At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $20,000,000 (nonrefundable) to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 25%. During the year, the storehouse purchased 518,000,000 of supplies, paid operating expenses of 1,000,000, and billed other funds for $21,250,000. All accounts are settled except $900,000 remaining to be collected from the general fund for supplies billed. Required Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse Enter your answers in thousands. For example, $1,000,000 is $1,000, . Do not use negative signs with any of your answers, City of Wooster Central Supplies Storehouse Statement of Revenues, Expenses, and Changes in Net Position For the Year 2014 in thousands Operating revenue Operating expenses (1) Operating income Capital contributions Change in net position Total net position beginning Total net positionending $ 0 (1) Includes cost of goods sold 0 0 0 0 O City of Wooster Central Supplies Storehouse Statement of Net Position At Fiscal Year End 2014 in thousands) 0 0 Current assets: Cash 5 Due from general fund nary Total assets 5 Net position Unrestricted Total position $ 0 O Check Previous Save Answers Next Questions Not complete Marked out of 15.00 P Hag Question Internal Service Fund Financial Statements At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $20,000,000 (nonrefundable to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 25M. During the year, the storehouse purchased $18,000,000 of supplies, paid operating expenses of $1,000,000, and billed other funds for $21,250,000. All accounts are settled except 5900,000 remaining to be collected from the general fund for supplies billed. Required Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse. Enter your answers in thousands. For example, $1,000,000 is $1,000. . Do not use negative signs with any of your answers. City of Wooster Central Supplies Storehouse Statement of Revenues, Expenses, and Changes in Net Position For the Year 2014 in thousands Operating revenue Operating expenses (1) Operating income Capital contributions Change in ne position Total net position-beginning Totalne position ending $ (1) Includes cost of goods sold $ O 0 0 0 0 0 0 City of Wooster Central Supplies Storehouse Statement of Net Position At Fiscal Year-End 2014 in thousands Current Cash $ Due from general fund Inventory Total 5 Net position Unrestricted Total net position 5 0 0 0 0 0 0 Check Previous Save Answers Next Question 3 Not complete Marked out of 15.00 Flag question Support Internal Service Fund Financial Statements At the beginning of fiscal year 2014, the City of Wooster established a central supplies storehouse to service its several funds. The general fund contributed $20,000,000 (nonrefundable) to aid in the establishment of the supplies storehouse. It was agreed that the storehouse would charge other funds for the purchase price of supplies plus 25%. During the year, the storehouse purchased $18,000,000 of supplies, paid operating expenses of $1,000,000, and billed other funds for $21,250,000. All accounts are settled except $900,000 remaining to be collected from the general fund for supplies billed. Required Prepare the statement of revenues, expenses, and changes in net position for fiscal 2014, and the statement of net position at the end of fiscal 2014 for the central supplies storehouse. Enter your answers in thousands. For example, $1,000,000 is $1,000, . Do not use negative signs with any of your answers. City of Wooster Central Supplies Storehouse Statement of Revenues, Expenses, and Changes in Net Position For the Year 2014 in thousando Operating revenue Operating expenses (1) 0 Operating income Capital contributions Change in net position 0 Total et position beginning Totale positioning (1) Includes cost of goods sold 0 0 0 0 City of Wooster Central Supplies Storehouse Statement of Net Position At Fiscal Year-End 2014 in thousands Assets Current assets: Cash Dut from general fund Inventory Total assets $ Net position Unrestricted Totalne position $ O 0 0 Check Previous Save Answers Next

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