On a Financial Balance Sheet, Debts (Negative Numbers) Are Denoted

question 60

Short Answer

On a financial balance sheet, debts (negative numbers) are denoted within parentheses. Assets (positive numbers) are written without parentheses. What is the 1,989 fund balance for the school whose financial records are shown in the table below? $$\begin{array} { | l | l | } \hline \text { Fund balances } & \mathbf { \$ } \\\hline \begin{array} { l } \text { Classroom } \\\text { supplies }\end{array} & 408 \\\hline \begin{array} { l } \text { Emergency } \\\text { needs }\end{array} & 1,537 \\\hline \text { Holiday program } & ( 220 ) \\\hline \text { Insurance } & 3,746 \\\hline \text { Janitorial } & ( 4,372 ) \\\hline \text { Licensing } & 4,010 \\\hline \text { Maintenance } & ( 564 ) \\\hline\end{array}$$
Fund balance = $__________

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Definitions:

Partially Executed

Refers to a contract or agreement where some, but not all, of the required actions have been completed by the parties involved.

Illegal Contract

An agreement between parties that is prohibited by law or violates legal statutes, making it unenforceable.

Breach

To violate a law, by an act or an omission, or to break a legal obligation that one owes to another person or to society.

Illegal Contract

An agreement that is either unlawful in nature or made with the purpose of undertaking an illegal act, and thus, is not enforceable by law.