Required Informetlon The following Iinformation applies to the questions display

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Required Informetlon The following Iinformation applies to the questions displayed below.j The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2017, 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 Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Revenue bonds payable Supplies inventory $ 18e,80e 25, 880 28,800 45, 806 47,88e 12,800 785,88e 98,800 55e,8ee 492,888 45, 808 17,800 48,800 4,8?? 115,880 625,88e 18,806 Totals $1,479, 800 $1,479,8ee Prepare the reconcillation 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 llabilities is zero. (Deductions should be entered as a negative amount.) VILLAGE OF SEA SIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the Year Ended December 31, 2017 Adjustments: Net Cash Provided (Used) by Operating Activities

Explanation / Answer

VILLAGE OF SEA SIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash provided by Operating activities For the year ended December 31,2017 Net Income -$70,000.00 Adjustments Depreciation $45,000.00 Increase in Accounts Payable $100,000.00 Increase in Accounts Receivable,net of allowance -$13,000.00 Increase in Accrued Interest Payable $28,000.00 Increase in Supplies Inventory -$18,000.00 $142,000.00 Net Cash provided by Operating activities $72,000.00 Calculation of net Income for the period ended Dec.31,2017 Charges for sale and services $550,000.00 Interest Revenue $4,000.00 Total Income $554,000.00 Less : Expenses - Cost of sale and services $492,000.00 - Depreciation Expense $45,000.00 - Administrative and selling expenses $47,000.00 - Interest Expense $40,000.00 Total Expenses $624,000.00 Net Income -$70,000.00

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