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Help Please. I AM STUCK The City of Oxbow General Fund has the following net resources at year-end: - $254,000 unexpended proceeds of a state
Help Please. I AM STUCK
The City of Oxbow General Fund has the following net resources at year-end: - $254,000 unexpended proceeds of a state grant required by law to be used for health education. - $15,000 of prepaid insurance. - $604,000 rainy day fund approved by city council for use under specified circumstances. - $204,000 budget stabilization fund to be used in the event of revenue shortfall. - $280,000 provided for contractual obligations for capital projects. - $31,000 unexpended proceeds of a tax required by law to be used for emergency 911 services. - $1,627,000 total fund balance. Required: Prepare the fund balance section of the Balance SheetStep by Step Solution
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