ACC 308 Accounting Information Systems Assignment

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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.

Reference no: EM132456870

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