Hannah County has a total fund balance in the General Fund as of the end of the year of $1,565,000. Assume the following:
-The budget officer decided to set aside $405,000 for new road maintenance. The county's governing board had previously given her this authority.
-Purchase orders of $41,000, which were not related to restricted or committed resources, were outstanding at year end.
-Unspent restricted drug enforcement grant proceeds of $75,000.
-The county's governing board passed an ordinance to use $500,000 for construction of a fleet maintenance facility.
In the year-end financial statements, Hannah County would report unassigned fund balance and assigned fund balance, respectively, in the General Fund as
A) $949,000 unassigned fund balance; $41,000 assigned fund balance.
B) $544,000 unassigned fund balance; $405,000 assigned fund balance.
C) $544,000 unassigned fund balance; $446,000 assigned fund balance.
D) $1,044,000 unassigned fund balance; $446,000 assigned fund balance.
Correct Answer:
Verified
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