Multiple choice problem identify the best answer based on the following facts ab

Question

Multiple choice problem identify the best answer
based on the following facts about an Enterprise Fund for a utiloity operation:
outstanding bonds issued for capital improvements 10,500,000
transfer to general fund (occurs annually) 500,000
charges for services earned in the current year 14,600,750
unspent capital bond issue proceeds 4,000,000
salaries and wages expense for the current year 9,600,000
interest earnings on all investments 600,000
fair market value of water lines donated by a local developer 1,000,000
net book value of all other existing capital assets 7,310,500
8. invested in capital assets, net of related debt, would be
a. $7,310,500
b. $8,310,500
c. ($2,189,500)
d. $4,310,500
e. $1,810,500
9. cash flows for noncapital financing activities would decrease
a. 0
b. $10,100,000
c. $9,500,000
d. $500,000
e. none of the above
10. the operating statement of the enterprise fund would not be directly impacted by
a. the amount of unspent bond proceeds at the end of the year
b. the donation by the local developer
c. the transfer to the general fund
d. all of the above
e. items a and b only

Explanation / Answer

8. Net book value of all other existing capital assets 7,310,500 9. d. 500,000 10. e.items of a and b only a.the amount of unspent bond proceeds at the end of the year b.the donation by the local developer

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