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P7-411. Depreciation on the office equipment of the Central Supplies Fund was $400.12. The Central...

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Accounting

P7-411. Depreciation on the office equipment of the Central Supplies Fund was $400.12. The Central Supplies Fund paid $25,000 to various creditors outside the governmental unit.13. Interest expense of $50 on the note payable was accrued by the Central Supplies Fund.(Journal entries and financial statements for an Enterprise Fund)The following transactions relate to the City of Arlington's Municipal Airport Fund for the fiscal year ended June 30,2013. Prepare (a) the journal entries necessary to record these transactions in the Municipal Airport Fund; (b) a trial balance as of June 30,2013; (c) a statement of revenues, expenses, and changes in net position for the 2012-2013 fiscal year, and (d) a statement of net position as of June 30,2013.
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