Village of the Damned Balance Sheet June 30, 20X9 ASSETS Cash Taxes receivable Supplies inventory Prepaid expenses Total assets Deferred outflows Total assets and deferred outflows LIABILITIES Vouchers payable Wages payable Total liabilities Deferred inflows Total liabilities and deferred inflows FUND BALANCE Total liabilities, deferred inflows, and fund balance 1,000 5,000 800 6001 7,400 400 7.800 1,300 660 1,960 3801 2,340 5,460 7,800 Shown on the left is the balance sheet of Village of the Damned. Given the information provided below, prepare a detailed Fund Balance with the necessary categories: Reserved, Unreserved, and Assigned, Restricted, and Unassigned. Use the space provided below the balance sheet to prepare the detailed fund balance Format will be considered when grading your work, please properly format the fund balance, including 000s comma separator for your numbers and appropriate titles. Additional Information: Determine the amount that is Reserved. 2 The Village City Council decided to set aside money to crect a monument detailing the Detroit Lions most stunning losses. Because of the length necessary to enter so many losses, a large monument was necessary and as such City Council set aside $1,400 for the monument Hint, this is an internal restriction. 3 Upon hearing about the Detroit Lions monument that was going to be built, Martha Ford provided the Village with a grant, providing funds to erect another monument detailing the Detroit Lions greatest wins. Given the minimal space needed for this monument, the grant was for S400, and the money had to be used to build the monument. Hint, this is an external restriction. FUND BALANCE Total fund balance