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A county has $3,650,000 of outstanding encumbrances related to unassigned resour

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9 years ago

A county has $3,650,000 of outstanding encumbrances related to unassigned resour

A county has $3,650,000 of outstanding encumbrances related to unassigned resources at year-end, December 31, 2013. It expects to accept delivery on all orders in 2014. How should the county handle the outstanding encumbrances in its General Fund balance sheet at December 31, 2013?
      a.   it should report encumbrances as if they were expenditures and liabilities of the year 2013
      b.   it should close the open encumbrances and show them as part of unassigned fund balance
      c.   it should close the open encumbrances and show them as part of assigned fund balance
      d.   it should close the open encumbrances and make no adjustments to fund balance

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Diesel

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f_zah1

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goji.go Author

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9 years ago

Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth

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Diesel

f_zah1

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9 years ago

You're very welcome!

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