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:

Scientific Method

The process of developing, testing, and refining theories to understand the determinants of social behavior.

Social Cognition

An examination of the ways in which people interpret, keep, and use data about other individuals and social scenarios.

Power of The Situation

The influence that environmental or situational factors have on individuals' behavior, often underestimating personal dispositional factors.

Extraverted People

Individuals characterized by their outgoing, energetic, and social nature, often feeling energized by social interaction.