Ascertain Bank Account balance to be reported under General Fund in the Balance Sheet of Governmental Fund from the following transactions of the City: I. City levied OMR 100,000 property tax, of which it collected OMR 70,000 II. City incurred OMR 5,000 general operating expenditure and paid OMR 4,000. III. City received State Grant OMR 500,000 for improving the side walk of the city and amount is restricted to be used for the purpose only.

a.

None of these

b.

Debit Balance of OMR 566,000

c.

Debit Balance of OMR 595,000

d.

Debit Balance of OMR 66,000