Question

che QE 6-9 Statement of Cash Flow The following is a Statement of Cash Flows for the risk management internal service fund of the City of Wrightville. An inexperienced accountant prepared the statement using the FASB format rather than the format required by GASB. All long-term debt was issued to purchase capital assets. The transfer from the General Fund was to establish the internal service fund and provide the initial working capital necessary for operations. CITY OF WRIGHTVILLE Risk Management Internal Service Fund Statement of Cash Flows For the Year Ended June 30, 2017 Cash flows from operating activities: Cash received from other departments Cash paid for suppliers and employees Cash paid on insurance claims Transfer from General Fund Investment income received Interest paid on long-term debt Cash flows from operating activities Cash flows from investing activities: Acquisition of property, plant, and equipment Purchase of investments Sale of property, plant, and equipment Cash flows from investing activities Cash flows from financing activities: $ 925,000 (120,000) (700,000) 250,000 25,000 (15,000) 365,000 (290,000) (200,000) 42,000 (448,000) < Prev 14 of 21 !!! Next > Eta e O No Fearch

Answer 1

$250,000 Answer: CITY OF WRIGHT VILLE RISK MANAGEMENT INTERNAN SERVICE FUND Tune 30,2017. statement of cash flows for the year anded Amount Amount particulars cash flow from operating activilies :- cash received from other department $925,000 cash paid on Insurance claims ($ 700,000) cash paid for Suppliers and employees $120,000) Nel cash provided by operating activida $105,000 Cash flow from Non-Capital Financing Transfer in from General fund $250,000 Net cash provided by non capital Financial activitegical Cash flows from Capital sebatet financing activities proceeds from long term debt $300.000 muta ai long lerm debt principal € 14,000) payments on Interest on lonq-termbebH $15.000) Cashe paid for capital assets 14290,000) Cash Received on Sale Capitalasset $42.000 Net cash used for capital related $23,000 financing activity Cash flows from Investing activities : Investment Income 1 $25000 purchase of Investment securities (6200000) Net cash provided by Investing activities Net Increase in cash Cash in hand July, 2016 - Cash in hand June 30, 2017 1 pay T$ 175,000) $ 903,000 $$ 118,000 T5321,000