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The governmental funds of the City of Westchester report $626,000 in assets and $231,000 in liabilities. The following are some of the assets reported by
The governmental funds of the City of Westchester report $626,000 in assets and $231,000 in liabilities. The following are some of the assets reported by this government. . Prepaid items-$8,300 Cash from a bond issuance that must be spent within the school system according to the bond indenture- $129,000 Supplies-$8,200 Investments given by a citizen that will be sold with the proceeds used to beautify a public park $44,750. Cash that the assistant director of finance has designated for use in upgrading the local roads-$44,250. Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers-$77,750. Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium $72,250 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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