e. None of the dov 15. Fund Accounting. The state\'s governmental funds report $

Question

e. None of the dov 15. Fund Accounting. The state's governmental funds report $700.000 in assets and $400.000 in liabilities Reported assets include: Cash from a bond issuance that must be spent within the school system according to the indenture-$50,000 Supplies-$5,000 Investments given by a citizen that will be sold with the proceeds used to build a garden $48,000 Cash that the assistant director of finance has designated for use in upgrading the local roads-$60,000 Cash from a state grant that must be spent to supplement the pay of local policemen -$30.000 Cash that the city council (the h ghest level of authority in the government) has voted to use to renovate a police station- $44.000 Prepaid items-$15,000 No amounts show as assigned on the beginning balance sheet. The transactions have already been recorded. The balance sheet for the govermmental funds will report following amount as unspendable and unassigned a. $28,000. b. $33,000. c. $48,000. d. $108,000. e. None of the above nnv5 Parrot Corporation pays S6.000 for 30% of the shares of S neeate and liabilities are as follows

Explanation / Answer

Solution:-

c. $48,000.

Explanation:-

700,000 - 400,000 - 50,000 - 5,000 - 48,000 - 60,000 - 30,000 - 44,000 - 15,000 = $ 48,000.

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