3The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. DebitsCreditsAccounts payable $ 108,000Accounts receivable$ 27,400 Accrued interest payable 30,600Accumulated depreciation 49,000Administrative and selling expenses51,000 Allowance for uncollectible accounts 13,000Capital assets714,000 Cash96,800 Charges for sales and services 561,000Cost of sales and services500,000 Depreciation expense49,000 Due from General Fund17,300 Interest expense40,500 Interest revenue 5,300Transfer in from General Fund 117,600Bank note payable 630,400Supplies inventory18,900 Totals$ 1,514,900$ 1,514,900 Required:Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of the December 31 Statement of Cash Flows. Recall that the beginning balance of all assets and liabilities is zero. > Answer is complete but not entirely correct.VILLAGE OF SEASIDE PINESENTERPRISE FUNDReconciliation of Operating Income toNet Cash Provided by Operating ActivitiesFor the year ended December 31, 2024Operating LossAdjustments:Depreciation ExpenseIncrease in Accounts PayableIncrease in Accounts Receivable (net)Increase in Due From Other FundsIncrease in Supplies InventoryNet Cash Provided (Used) by Operating ActivitiesXXx$ (39,000)$$49,000108,000(14,400)(17,300)(18,900)194,900

The cash flow statement is prepared at the end of the period to know the cash position. It reflects…

The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 108,000 Accounts receivable $ 27,400 Accrued interest payable 30,600 Accumulated depreciation 49,000

The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 108,000 Accounts receivable $ 27,400 Accrued interest payable 30,600 Accumulated depreciation 49,000

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 40E

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	Debits	Credits
Accounts payable		$ 108,000
Accounts receivable	$ 27,400
Accrued interest payable		30,600
Accumulated depreciation		49,000
Administrative and selling expenses	51,000
Allowance for uncollectible accounts		13,000
Capital assets	714,000
Cash	96,800
Charges for sales and services		561,000
Cost of sales and services	500,000
Depreciation expense	49,000
Due from General Fund	17,300
Interest expense	40,500
Interest revenue		5,300
Transfer in from General Fund		117,600
Bank note payable		630,400
Supplies inventory	18,900
Totals	$ 1,514,900	$ 1,514,900

Required:

Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of the December 31 Statement of Cash Flows. Recall that the beginning balance of all assets and liabilities is zero.

> Answer is complete but not entirely correct.
VILLAGE OF SEASIDE PINES
ENTERPRISE FUND
Reconciliation of Operating Income to
Net Cash Provided by Operating Activities
For the year ended December 31, 2024
Operating Loss
Adjustments:
Depreciation Expense
Increase in Accounts Payable
Increase in Accounts Receivable (net)
Increase in Due From Other Funds
Increase in Supplies Inventory
Net Cash Provided (Used) by Operating Activities
X
X
x
$ (39,000)
$
$
49,000
108,000
(14,400)
(17,300)
(18,900)
194,900

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