Ted's Village has five governmental funds: a General Fund, a Debt Service Fund, and three Special Revenue Funds. It has no proprietary funds. The following information is available at December 31, 2022 for each of the funds. Debt Special Revenue Fund A General Service Fund B Fund C Cash $20,000 $10,000 $1,200 S600 S1,400 Taxes receivable 10,000 4,000 Accounts payable 12,000 200 800 400 Assigned fund balance 600 2,000 800 400 Restricted fund balance 14,000 Unassigned fund balance 16,000 Total revenues 104,000 12,000 4,800 2,400 6,800 Total expenditures 96,000 10,000 4,600 2,200 6,400 a) Identify which of the funds are major funds as defined in GASB Statement No. 34, amended by GASB Statement No. 37. General Fund Debt Service Fund Eon in Eund o pecial D.

Ted's Village has five governmental funds: a General Fund, a Debt Service Fund, and three Special Revenue Funds. It has no proprietary funds. The following information is available at December 31, 2022 for each of the funds. Debt Special Revenue Fund A General Service Fund B Fund C Cash $20,000 $10,000 $1,200 S600 S1,400 Taxes receivable 10,000 4,000 Accounts payable 12,000 200 800 400 Assigned fund balance 600 2,000 800 400 Restricted fund balance 14,000 Unassigned fund balance 16,000 Total revenues 104,000 12,000 4,800 2,400 6,800 Total expenditures 96,000 10,000 4,600 2,200 6,400 a) Identify which of the funds are major funds as defined in GASB Statement No. 34, amended by GASB Statement No. 37. General Fund Debt Service Fund Eon in Eund o pecial D.

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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