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Title: Fund Balance Calculations Post by: derro on Jun 22, 2018 The City of Armona had the following assets and liabilities at June 30, 20X3, the end of its fiscal year (all amounts are in thousands):
Assets Cash Investments Taxes Receivable Allowance for Uncollectible Taxes Due from Special Revenue Fund Inventory Advance to Enterprise Fund Total Assets 5,250 250 1,300 (200) 150 200 150 7,100 Liabilities Vouchers Payable Short-Term Note Payable Accrued Wages Payable Due to Internal Service Fund Total Liabilities 750 1,000 200 50 2,000 Additional information: 1. The city received a state grant of $300 stipulating that it could be spent at any time on equipment. To date, none of the money has been spent. 2. The city council, in a formal vote, adopted a binding resolution to set aside another $500 for equipment purchases. Requirement: Calculate the five components of Fund Balance. Title: Re: Fund Balance Calculations Post by: bolbol on Aug 12, 2018 Content hidden
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