Question
16) The Town of Baker reported the following items on the June 30, 20X9, balance sheet of its general fund: Cash $ 50,000 Property Taxes
16) The Town of Baker reported the following items on the June 30, 20X9, balance sheet of its general fund:
|
|
| |||
| Cash | $ | 50,000 |
| |
| Property Taxes ReceivableDelinquent (net) |
| 24,000 |
| |
| Inventory Supplies |
| 10,000 |
| |
| Vouchers Payable |
| 34,000 |
| |
| Due to Internal Service Fund |
| 4,000 |
| |
| Fund BalanceAssigned for Encumbrances |
| 6,000 |
| |
| Fund BalanceNonspendable |
| ? |
| |
| Fund BalanceUnassigned |
| ? |
| |
At June 30, 20X9, what amount should be reported for Fund BalanceUnassigned?
A) $46,000
B) $40,000
C) $30,000
D) $16,000
16) The Town of Baker reported the following items on the June 30, 20X9, balance sheet of its general fund:
|
|
| |||
| Cash | $ | 50,000 |
| |
| Property Taxes ReceivableDelinquent (net) |
| 24,000 |
| |
| Inventory Supplies |
| 10,000 |
| |
| Vouchers Payable |
| 34,000 |
| |
| Due to Internal Service Fund |
| 4,000 |
| |
| Fund BalanceAssigned for Encumbrances |
| 6,000 |
| |
| Fund BalanceNonspendable |
| ? |
| |
| Fund BalanceUnassigned |
| ? |
| |
At June 30, 20X9, what amount should be reported for Fund BalanceUnassigned?
A) $46,000
B) $40,000
C) $30,000
D) $16,000
Please explain using math steps how to get 30,000
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ISE Financial Accounting
Authors: Robert Libby, Patricia Libby, Frank Hodge Ch
11th Edition
1265083924, 9781265083922
