Fund and Government-Wide Basis Accounting. Metro City\'s general fund begins the

Question

Fund and Government-Wide Basis Accounting. Metro City's general fund begins the year with cash $4,000, fund balance $4.000. Receipt within 45 days is the definition of available resources. The statement of net position also shows a beginning cash balance of $4.000 and $4,000 as the beginning net position. a Tax assessments are $40.500. Collected property tax revenue $40.000. The remaining amount should be collected next year--$200 within 30 days; $300 in about five months. b. Ordered a new fire truck for $49,000. The amount invoiced and paid was $51.000. Depreciation this year is c. Transferred $6.000 to the debt service fund $500.

Explanation / Answer

13) The ending fund balance amount for the general fund is:- 18200

14) The ending net position shown in the government wide statement is $33400

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.