The General Fund has a Due from Capital Projects Fund of S48,000 and a Due from Water Enterprise Fund of S120,000. The Capital Projects Fund has a Due to General Fundof S48,000, and the Water Enterprise Fund has a Due to General Fund of $120,000. What will be the amount of internal balances reported in the government-wide statement ofnet position? O Internal balances of $48,000 O No internal balances are reported. O Internal balances of $148,000 O Internal balances of $120,000

The General Fund, which serves as a government body's main operating fund, is an important part of…

The General Fund has a Due from Capital Projects Fund of S48,000 and a Due of $48,000, and the Water Enterprise Fund has a Due to General Fund of $120, net position? O Internal balances of $48,000 O No internal balances are reporter

The General Fund has a Due from Capital Projects Fund of S48,000 and a Due of $48,000, and the Water Enterprise Fund has a Due to General Fund of $120, net position? O Internal balances of $48,000 O No internal balances are reporter

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

The General Fund has a Due from Capital Projects Fund of S48,000 and a Due from Water Enterprise Fund of S120,000. The Capital Projects Fund has a Due to General Fund
of S48,000, and the Water Enterprise Fund has a Due to General Fund of $120,000. What will be the amount of internal balances reported in the government-wide statement of
net position? O Internal balances of $48,000 O No internal balances are reported. O Internal balances of $148,000 O Internal balances of $120,000

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