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Prepare a Statement of Cash Flows for the Village of Parry P

6-10. The Village of Parry reported the following for its Print Shop Fund for the
year ended April 30, 2009.
VILLAGE OF PARRY-PRINT SHOP FUND
Statement of Revenues, Expenses, and Changes in Net Assets
For the Year Ended April 30, 2009
Operating revenues:
Charges for services $1,000,000
Operating expenses:
Salaries and benefits $500,000
Depreciation 200,000
Supplies used 200,000
Utilities 70,000 970,000
Income from operations 30,000
Nonoperating income (expenses):
Interest revenue 30,000
Interest expense (50,000) (20,000)
Net income before transfers 10,000
Transfers in 180,000
Changes in net assets 190,000
Net assets-beginning 1,120,000
Net assets-ending $1,310,000

The Print Shop Fund records also revealed the following:
1. Contribution from Water Utility Fund
for working capital needs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 80,000
2. Contribution from General Fund
for purchase of equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000
3. Loan from Water Utility Fund
for purchase of equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . 300,000
4. Purchase of equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (450,000)
5. Purchase of one-year investments . . . . . . . . . . . . . . . . . . . . . .. (100,000)
6. Paid off a bank loan outstanding at May 1, 2008 . . . . . . . . . . $50,000
Paid interest. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. $1,000
The loan was for short-term operating purposes.
7. Signed a capital lease on April 30, 2009 . . . . . . . . . . . . . . . . . . . . $42,180

The following balances were observed in current asset and current liability
accounts. ( ) denote credit balances:
5/1/08 4/30/09
Cash $151,000 $233,000
Accrued interest receivable 5,000 10,000
Due from other funds 40,000 50,000
Accrued salaries and benefits (20,000) (30,000)
Utility bills payable (4,000) (5,000)
Accounts payable (30,000) (25,000)
Accrued interest payable (5,000) (7,000)

Prepare a Statement of Cash Flows for the Village of Parry Print Shop
Fund for the Year Ended April 30, 2009. Include the reconciliation of operating
income to net cash provided by operating activities.

see attached

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6-10. The Village of Parry reported the following for its Print Shop Fund for the year ended April 30, 2009.

VILLAGE OF PARRY-PRINT SHOP FUND
Statement of Revenues, Expenses, and Changes in Net Assets
For the Year Ended April 30, 2009
Operating revenues:
Charges for services $1,000,000
Operating expenses:
Salaries and benefits $500,000
Depreciation 200,000
Supplies used 200,000
Utilities 70,000 970,000
Income from operations 30,000
Nonoperating income (expenses):
Interest revenue 30,000
Interest expense (50,000) (20,000)
Net income before transfers 10,000
Transfers in 180,000
Changes in net assets 190,000
Net assets-beginning 1,120,000
Net assets-ending $1,310,000

The Print Shop Fund records also revealed the following:
1. Contribution from Water Utility Fund
for working capital needs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 80,000
2. Contribution from General Fund
for purchase of equipment. . . . . . . . . . . . . . . . . . . . . . . . . . . 100,000
3. Loan from Water Utility Fund
for ...

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This solution is comprised of a detailed explanation to prepare a Statement of Cash Flows for the Village of Parry Print Shop.

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