Using the Information Provided Below for the Water Utility Enterprise

question 19

Essay

Using the information provided below for the Water Utility Enterprise Fund of the City of Rice, prepare a statement of revenues, expenses, and changes in fund net position for 20X3.
- $\begin{array}{llr} \text { Charges for services. } &\$3,300\\ \text {Interest received } &105\\ \text {Increase in fair value of investments } &12\\ \text {Gain on sale of capital assets } &8\\ \text { Operating transfers from the General Fund. } &450\\ \text { Capital Grant. } &1,200\\ \text {Salaries expense } &1,000\\ \text { Contractual services used.} &300\\ \text { Supplies used } &400\\ \text {Depreciation. } &1,100\\ \text { Interest expense } &250\\ \text { Unrestricted Net Position, January 1, 20X3 } &1,000\\ \text { Restricted Net Position, January 1, \( 20 \mathrm{X} 3 \). } &200\\ \text {Net Investment in Capital Assets, January 1, \( 20 \mathrm{X} 3 \) } &1,800\\\end{array}$

Recognize the regulatory landscape of the financial industry, including key acts and their impact on banking practices.

Identify types of mutual funds and their characteristics.

Comprehend the differences between banks and other types of financial institutions such as credit unions and savings and loan associations.

Understand the specific services and products offered by insurance companies.

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Definitions:

Event A

A specific occurrence or happening, often denoted in probability and statistics as a measurable outcome.

Mutually Exclusive

A condition in which the occurrence of one event or situation precludes the occurrence of another.

Compatible Events

Events in probability theory that can occur at the same time.

Mutually Exclusive

Describes a condition in probability and statistics where two events cannot occur at the same time; the occurrence of one event excludes the possibility of the other event occurring.