Assume that the City of Pasco maintains its books and records in a manner that facilitates preparation of the fund financial statements. The city engaged in the following transactions related to its general fund during the current fiscal year. The city formally integrates the budget into the accounting records. The city does not maintain an inventory of supplies. All amounts are in thousands:

(a) The city council approved a budget with revenues estimated to be $800 and expenditures of $775.

(b) The city ordered supplies at an estimated cost of $25 and equipment at an estimated cost of $20.

(c) The city incurred and paid salaries and other operating expenses during the year totaling $730.

(d) The city received ALL supplies ordered at an actual cost of $23. The city use $20 of the supplies received. The

Consumption method is the Accounting policy the city used to account for the Supplies.

(e) The city collected revenues of $795.

How much is available to spend for a Christmas Party at year end?

		$55
		$785
		$32
		$5