following information from general fund accounts in themand) Cech in bank Dr. $100.000 5.800.000
following information from general fund accounts in themand) Cech in bank Dr. $100.000 5.800.000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Computing Available Funds
As the newly-hired assistant controller for the City of Lancaster, you are asked to determine the amount of available funds. After consulting your assistant and the city treasurer, you begin to analyze the
following Information from general fund accounts
On thousands)
Cash in bank
Dr. (Cr)
$100,000
10
4.900.000
Fund balance managed
*Assigned fund balance consists of outstanding encumbrances
Calculate the funds available to be encumbered.
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