For each of the following events or transactions, identity the fund that will be affected. A city government pays the final contract retained percentage for A county government establishes an investment pool to manage the JA county government receives a large contribution specifying that income from the contribution be distributed each year to the county zoo. The principal is to remain intact indefinitely A county government levies real property taxes on behalf of the county and its municipalities JA central purchasing department was established to handle all the Paid the interest of general bonds Collections the pension of administrative employees of governmenal entity A Permanent Funds B. Internal Services Funds C. Debt Services Funds D Pension Trust Funds E Capital Proyect Funds F. General Funds G. Trust Funds

For each of the following events or transactions, identity the fund that will be affected. A city government pays the final contract retained percentage for A county government establishes an investment pool to manage the JA county government receives a large contribution specifying that income from the contribution be distributed each year to the county zoo. The principal is to remain intact indefinitely A county government levies real property taxes on behalf of the county and its municipalities JA central purchasing department was established to handle all the Paid the interest of general bonds Collections the pension of administrative employees of governmenal entity A Permanent Funds B. Internal Services Funds C. Debt Services Funds D Pension Trust Funds E Capital Proyect Funds F. General Funds G. Trust Funds

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter23: Exempt Entities

Section: Chapter Questions

Problem 27P

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[The following information applies to the questions displayed below.]The Township of Thomasville’s General Fund has the following net resources at year end: $69,000 of prepaid insurance $410,000 rainy day fund approved by the township governing board with specific conditions for its use $1,800 of supplies inventory $60,000 state grant for snow removal $150,000 contractual obligations for the purchase of equipment Outstanding encumbrance of $105,000 for the purchase of furniture & fixtures (assume no contractual obligation) Total Fund Balance is $1,010,500 What would be the total Nonspendable fund balance? Multiple Choice $70,800 $150,000 $69,000 $410,500 What would be the total Restricted fund balance? Multiple Choice $60,000 $150,000 $479,000 $410,000