Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Township of Thomasville's General Fund has the following net resources at year end: . $69,000 of prepaid insurance $410,000 rainy day fund approved by

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The Township of Thomasville's 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 $2,500 of supplies inventory $49,000 state grant for snow removal $190,000 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 Restricted fund balance? Multiple Choice O $49,000 O $190.000 O $410,000 What would be the total Restricted fund balance? Multiple Choice O $49,000 $190,000 O $410.000 O S479.000 The Township of Thomasville's 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 $2,500 of supplies inventory $49,000 state grant for snow removal $190.000 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 Unassigned fund balance? Multiple Choice O $410,000 O $185.000 $185.000 What would be the total Unassigned fund balance? Multiple Choice S410,000 $185,000 S105,000 S190.000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Writing A For Accountants

Authors: Claire B. May, Gordon S. May

11th Edition

0134667387, 9780134667386

More Books

Students also viewed these Accounting questions

Question

Explain the efficiency of Research and Development Agencies

Answered: 1 week ago

Question

Peoples understanding of what is being said

Answered: 1 week ago