The Township of Thomasville's General Fund has the following net resources at year end: S66,000 of inventory • $375,000 federal grants for disaster relieve related to the flood • $60,000 sinking fund for payments of general obligation bond $150,000 contractual obligations for the purchase of equipment • $200,000 to be used to fund government operations in the future • Outstanding encumbrance of $80,000 for the purchase of office supplies 1. What would be the total Nonspendable fund balance? 2. What would be the total Restricted fund balance? 3. What would be the total Committed fund balance?

The Township of Thomasville's General Fund has the following net resources at year end: S66,000 of inventory • $375,000 federal grants for disaster relieve related to the flood • $60,000 sinking fund for payments of general obligation bond $150,000 contractual obligations for the purchase of equipment • $200,000 to be used to fund government operations in the future • Outstanding encumbrance of $80,000 for the purchase of office supplies 1. What would be the total Nonspendable fund balance? 2. What would be the total Restricted fund balance? 3. What would be the total Committed fund balance?

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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