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The following information pertains to Pine City's general fund for Year 1: Appropriations $6,500,000 Expenditures $5,000,000 Other financing sources $1,500,000 Other financing uses $2,000,000 Revenues $8,000,000 After Pine City's general fund accounts were closed at the end of Year 1, the fund balance increased by $3,000,000 $2,500,000 $1,500,000 O $1,000,000

The following information pertains to Pine City's general fund for Year 1: Appropriations $6,500,000 Expenditures $5,000,000 Other financing sources $1,500,000 Other financing uses $2,000,000 Revenues $8,000,000 After Pine City's general fund accounts were closed at the end of Year 1, the fund balance increased by $3,000,000 $2,500,000 $1,500,000 O $1,000,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following information pertains to Pine City's general fund for Year 1: Appropriations $6,500,000 Expenditures $5,000,000 Other financing sources $1,500,000 Other financing uses $2,000,000 Revenues $8,000,000 After Pine City's general fund accounts were closed at the end of Year 1, the fund balance increased by O $3,000,000 $2,500,000 $1,500,000 O $1,000,000
Transcribed Image Text:The following information pertains to Pine City's general fund for Year 1: Appropriations $6,500,000 Expenditures $5,000,000 Other financing sources $1,500,000 Other financing uses $2,000,000 Revenues $8,000,000 After Pine City's general fund accounts were closed at the end of Year 1, the fund balance increased by O $3,000,000 $2,500,000 $1,500,000 O $1,000,000
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