FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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Transcribed Image Text: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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