Governmental Accounting

Below are the accounts balances for the Stores Fund of the City of Arlington as of January 1. 2020: Credits Debits $32,000 27,000 27,500 18,000 80,000 Cash Due from other funds Inventory of supplies Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation equipment Accounts payable Advance from water utility fund Net position Totals $28,000 46,000 25,000 19,000 30,000 128.500 $230, 500 S230,500 c. Discussion Board Discuss the differences between the fund balance and net position