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Question 1 (1 point) A Housing and Urban Development Special Revenue Fund's beginning supplies inventory balance was $100,000; its ending supplies inventory balance was $120,000.
Question 1 (1 point) A Housing and Urban Development Special Revenue Fund's beginning supplies inventory balance was $100,000; its ending supplies inventory balance was $120,000. Supplies purchased during the year were $400,000. Accounts payable for the fund's supplies were $17,000 at the beginning of the year and $7,000 at year end. In the Housing and Urban Development Special Revenue Fund statement of revenues, expenditures, and changes in fund balances, what amount(s) besides expenditures must be reported related to supplies? Purchase Method: Fund balance-Nonspendable of $20,000; Consumption Method: Nothing Purchase Method: Fund Balance-Restricted of $20,000; Consumption Method: Fund Balance- Restricted of $20,000 Purchase Method: Fund balance-Nonspendable of $20,000; Consumption Method: Fund Balance- Nonspendable of $20,000 Purchase Method: Nothing; Consumption Method: Nothing O Purchase Method: Nothing; Consumption Method: Fund Balance- Nonspendable of $20,000
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