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  3. water utility fund 1. billed general fund $40,000

Water Utility Fund 1. Billed General Fund $40,000 for water usage and the citizens of...

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Accounting

Water Utility Fund

1. Billed General Fund $40,000 for water usage and the citizens of NWTC $285,000 for water usage.

2. Collected $40,000 from General Fund and $275,000 from citizens from water billings.

3. Received and paid bill from Computer Services Fund of $45,000.

4. Purchased equipment costing $25,000 (paid cash).

5. Paid following bills:

a. Salary and fringes - $100,000

b. Supplies - $10,000

c. Repairs and Maintenance - $15,000

6. Annual depreciation of $70,000 is recorded ($50,000 on building and $20,000 on equipment)

Computer Services Fund

1. Billed General Fund $80,000 ($40,000 for General Government, $20,000 for Public Safety and $20,000 for Public Works) for services and Water Utility Fund $45,000 for services.

2. Purchased Computers & Printers costing $100,000 (paid in cash)

3. General Fund and Water Utility Fund pay bill

4. Paid following expenses:

a. Salary & Fringes - $70,000

b. Repairs/Maintenance - $15,000

c. Supplies - $5,000

5. Annual depreciation expense for computers & printers is $10,000

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