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The governmental funds of the City of Westchester report $583,500 in assets and $161,000 in liabilities. The following are some of the assets that the
The governmental funds of the City of Westchester report $583,500 in assets and $161,000 in liabilities. The following are some of the assets that the government reports. - Prepaid items- $14,300. - Cash from a bond issuance that must be spent within the school system according to the bond indenture- $127,000. - Supplies- $7,750. - Investments given by a citizen that will be sold soon with the proceeds used to beautify a public park- $51,500. - Cash that the assistant director of finance designated for use in upgrading the local roads $46,000. - Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers- $63,250. - Cash that the city council (the highest level of decision-making authority in the government) voted to use in renovating a school gymnasium-\$83,250. On a balance sheet for the governmental funds, what fund balance amounts should the City of Westchester report
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