Question
The Township of Thomasvilles General Fund has the following net resources at year end: $69,000 of prepaid insurance $410,000 rainy day fund approved by the
The Township of Thomasvilles General Fund has the following net resources at year end:
- $69,000 of prepaid insurance
- $410,000 rainy day fund approved by the township governing board with specific conditions for its use
- $1,800 of supplies inventory
- $60,000 state grant for snow removal
- $150,000 contractual obligations for the purchase of equipment
- Outstanding encumbrance of $105,000 for the purchase of furniture & fixtures (assume no contractual obligation)
- Total Fund Balance is $1,010,500
What would be the total Nonspendable fund balance?
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
