Solved

Tinsel Town Has Only Two Funds,the General Fund (GF),and a Capital

Question 29

Multiple Choice

Tinsel Town has only two funds,the General Fund (GF) ,and a Capital Projects Fund (CPF) .Summarized operating statements for each of the funds for fiscal 2013 are as follows:  GF  CPF  Total  Revenues $100$$100 Expenditures 8962151 Bond proceeds 7070 Increase in fund balance 11819 Beginning fund balance 52052 Ending fund balance 63871\begin{array}{lrrr}&\text { GF } &\text { CPF }&\text { Total }\\\text { Revenues } & \$ 100 & \$- & \$ 100 \\\text { Expenditures } & 89 & 62 & 151 \\\text { Bond proceeds } & -- & 70 & 70\\\text { Increase in fund balance } & 11 & 8 & 19 \\\text { Beginning fund balance } & 52 & 0 & 52 \\\text { Ending fund balance } & 63 & 8 & 71\end{array}
The total net position balance for Tinsel Town's governmental activities at the end of fiscal 2013 is


A) 63
B) 43
C) 68
D) 75

Correct Answer:

verifed

Verified

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