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The general fund of a city reports assets of $ 3 0 0 , 0 0 0 and liabilities of $ 2 0 0 ,

The general fund of a city reports assets of $300,000 and liabilities of $200,000 in fund financial statements. Explain what is meant by each of the following balances: fund balancenonspendable of $40,000, fund balancerestricted of $28,000, fund balancecommitted of $17,000, fund balanceassigned of $4,000, and fund balanceunassigned of $11,000.

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