Question
The Suwannee County general fund balance sheet on June 30, 2020, the close of its fiscal year, was as follows: Vouchers Payable $ 310,000 Inventory
The Suwannee County general fund balance sheet on June 30, 2020, the close of its fiscal year, was as follows:
| Vouchers Payable | $ | 310,000 | |
| Inventory of Supplies | 30,000 | ||
| Fund BalanceAssigned for Encumbrances | 50,000 | ||
| Fund BalanceNonspendable | 30,000 | ||
| Total Assets | 516,000 | ||
On June 30, 2020, what was Suwannee's unassigned fund balance in its general fund?
Multiple Choice
-
$96,000
-
$126,000
-
$176,000
-
$206,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Statistics Informed Decisions Using Data
Authors: Michael Sullivan III
5th Edition
9780134133539
