Solution-Which of classifications of fund balance

Which of classifications of fund balance government report

Reference no: EM132644695

GASB Statement No. 54 uses up to five (5) classifications of Fund Balance.

Question a. Which of the five classifications of Fund Balance does your government report?

Question b. Are any of the classifications have subclassifications presented on the face of the financial statements?

Question c. Does your government report "Supplies" or "Prepaids" in the asset section of the Balance Sheet? If so, is there a corresponding Nonspendable fund balance reported on the face of the statements or in the notes to the financial statements?

Question d. Does your government report an "Advance To" in the asset section of the Balance Sheet? If so, is there a corresponding Nonspendable fund balance reported on the face of the statements or in the notes to the financial statements?

Question e. Does your government report a negative amount in any classification of Fund Balance? If so, what classification?

Reference no: EM132644695

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Which of classifications of fund balance government report

Reference no: EM132644695

Reference no: EM132644695

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