Reference no: EM132456870
ACC 308 Accounting Information Systems Assignment - Ashford University, USA
Problem - The City of Oxbow General Fund has the following net resources at year-end:
$255,000 unexpended proceeds of a state grant required by law to be used for health education.
$16,000 of prepaid insurance.
$605,000 rainy day fund approved by city council for use under specified circumstances.
$206,000 budget stabilization fund to be used in the event of revenue shortfall.
$281,000 provided for contractual obligations for capital projects.
$33,000 unexpended proceeds of a tax required by law to be used for emergency 911 services.
$1,629,000 total fund balance.
Required - Prepare the fund balance section of the Balance Sheet.
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ACC 308 Accounting Information Systems Assignment
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