Question
The governmental funds of the City of Westchester report $560,500 in assets and $148,000 in liabilities. The following are some of the assets reported by
The governmental funds of the City of Westchester report $560,500 in assets and $148,000 in liabilities. The following are some of the assets reported by this government.
Prepaid items$15,500. | |
Cash from a bond issuance that must be spent within the school system according to the bond indenture$91,000. | |
Supplies$5,300. | |
Investments given by a citizen that will be sold with the proceeds used to beautify a public park$42,250. | |
Cash that the assistant director of finance has designated for use in upgrading the local roads$56,250. | |
Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers$71,250. | |
Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium$84,000. |
On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester? Fund-balance-nonspendable Fund-balance- restricted Fund-balance-committed Fund-balance-assigned Fund-balance-unassigned Total fund-balance |
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