Computing Available FundsAs the newly-hired assistant controller for the City of Lancaster, you are asked to determine the amount of available funds. After consulting your assistant and the city treasurer, you begin to analyze thefollowing Information from general fund accountsOn thousands)Cash in bankDr. (Cr)$100,000104.900.000Fund balance managed*Assigned fund balance consists of outstanding encumbrancesCalculate the funds available to be encumbered.

To compute the appropriation, add the estimated revenues and budgetary Deficit. To determine the…

Answered: following information from general fund…

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following information from general fund accounts in themand) Cech in bank Dr. $100.000 5.800.000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Computing Available Funds
As the newly-hired assistant controller for the City of Lancaster, you are asked to determine the amount of available funds. After consulting your assistant and the city treasurer, you begin to analyze the
following Information from general fund accounts
On thousands)
Cash in bank
Dr. (Cr)
$100,000
10
4.900.000
Fund balance managed
*Assigned fund balance consists of outstanding encumbrances
Calculate the funds available to be encumbered.

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