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lesya692 [45]
2 years ago
14

The City of Oxbow General Fund has the following net resources at year-end:

Business
1 answer:
Delvig [45]2 years ago
7 0

Answer:

$1,622,000

Explanation:

Preparation of the fund balance section of the balance sheet.

Partial Balance Sheet-General Fund

As of December 31

FUND BALANCES SECTION OF THE BALANCE SHEET

Nonspendable:

Prepaid Insurance $10,000

Restricted:

Intergovernmental Grants $250,000

Emergency services $26,000

Committed:

Rainy Day Fund $600,000

Capital Projects $275,000

Assigned:

Unassigned $461,000

TOTAL fund balance $1,622,000

Therefore the fund balance section of the balance sheet will be $1,622,000

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