Solved

Below Is Information on Total Assets for Various Funds of the City

Question 4

Essay

Below is information on total assets for various funds of the City of Dublin all amounts are in thousands of dollars.
 Fund  Assets  General $1,300 Federal Grants Special Revenue 500 State Grants Special Revenue 200 City Hall Capital Projects 900 Debt Service 700 Water and Sewer Enterprise 8,000 Swimming Pool Enterprise 1,000 Fleet Management Internal Service 10,800 Employee Pension Fund 6,500\begin{array}{|l|r|}\hline{\text { Fund }} &{\text { Assets }} \\\hline \text { General } & \$ 1,300 \\\hline \text { Federal Grants Special Revenue } & 500 \\\hline \text { State Grants Special Revenue } & 200 \\\hline \text { City Hall Capital Projects } & 900 \\\hline \text { Debt Service } & 700 \\\hline \text { Water and Sewer Enterprise } & 8,000 \\\hline \text { Swimming Pool Enterprise } & 1,000 \\\hline \text { Fleet Management Internal Service } & 10,800 \\\hline \text { Employee Pension Fund } & 6,500\\\hline\end{array} Requirement: Prepare a schedule computing the threshold for asset amounts that should be used to determine which funds must be reported as major. Identify which funds are major funds.

Correct Answer:

verifed

Verified

blured image blured image The threshold for determining that a g...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents