Snotty did not issue shares during 20x2.
Municipal foreign currency.
20x2
-$1,450 -$1,460 -$1,480 -$1,510 None of the above
Questions:
Brave City's general fund begins the year with cash $4,000 and a fund balance of $4,000. Receipts within 60 days are considered available resources. The statement of net position also shows a beginning cash balance of $4,000 and $4,000 as the beginning net position. Tax assessments are $50,500. Collected property tax revenue is $49,000. The remaining amount should be collected next year - $200 within 30 days and $1,300 in about five months. The city ordered a new fire truck for $51,000. The amount invoiced and paid was $52,000. Depreciation this year is $1,000. The city transferred $5,000 to the debt service fund. They also issued a long-term bond for $40,000 on July 1. The purpose of the bond is to refinance old debt on capital assets and provide for the purchase of new police cars. Accrued interest is $2,000 at year-end, with the first payment scheduled for next April. The city paid salaries of $12,000. An additional $1,000 is accrued at the end of the year, with payment expected in 90 days. The city bought and used supplies for $2,000. The ending fund balance for the general fund is $20,000, $20,100, $22,200, $23,000, or none of the above.
The ending net position shown in the government-wide statements, including both the general fund and debt service fund, is $30,800, $34,800, $34,900, $36,500, or none of the above.
