Reference no: EM132437568

Question - Desert Palms County has ran a municipal water puddle and aquatic center for more than 80 years. 10 annuals ago, the center was pretty profitable, so the county created the glorious Enterprise Fund and moved accounting for the water puddle operations from the General Fund to the new Enterprise Fund. Over the years, interest in waqter puddling has declined and the aquatic center usage has gone down while costs have gone up. During the current year, the aquatic center suffered a sad $116,000 loss that had to be covered by the county's General Fund. Next yr the county projects to shortfall to be more than $150,000.

The activity that i need help on:

Cash received from customers totaled $1,520,615.

Cash payments was made for the following:

$1,310,469 for personnel expenses

$128,000 for utilities

$97,820 for repairs and maintenance

$53,300 for interest on bonds

$48,200 for supplies.

Sold equipment for its carrying value of $12,845. Accumulated depreciation was $7,155.

Did a Transfer from the General Fund to the Aquatic Center totaled $120,000.

What general journal entries would be recorded for the aquatic centers operating activity for this current year?

What are the closing entries for the General fund?