Question
A fund begins the year with 500 on Jan 1. A deposit of 200 is made on April1 and a deposit of 300 is made
A fund begins the year with 500 on Jan 1. A deposit of 200 is made on April1 and a deposit of 300 is made on July 1. There are no other deposits or withdrawals during the year. The fund balance at the year-end is 1,100. The fund's time-weighted balance on April 1 (before the deposit) was 575, what was the fund balance on July 1 before the deposit?
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
