Center City's General Fund Has the Following Net Resources at December

question 35

Essay

Center City's General Fund has the following net resources at December 31,2015:
•Total assets of $846,000 and liabilities of $137,500.
•$400,000 rainy day fund approved by the township governing board
•$3,600 of supplies inventory
•$15,000 state grant for snow removal
•$120,000 contractual obligations for capital projects
•$66,000 of outstanding encumbrances representing purchase orders which will be paid from the General Fund
Required:
Prepare the fund balance section of the Balance Sheet

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Definitions:

Quaternary Structure

The overall conformation of a protein produced by the interaction of two or more polypeptide chains. Compare with primary, secondary, and tertiary protein structure.

Polypeptide Chains

Long chains of amino acids linked by peptide bonds, which fold into specific three-dimensional structures to form proteins.

Steroid Hormone

A type of hormone derived from cholesterol that can pass through cellular membranes and is involved in a wide range of bodily functions.

Nucleic Acid

Organic molecules that serve as the blueprint for proteins and, through the actions of proteins, the entire phenotype of a living organism; includes DNA and RNA.