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Homework answers / question archive / The governmental funds of the City of Westchester report $601,500 in assets and $214,000 in liabilities

The governmental funds of the City of Westchester report $601,500 in assets and $214,000 in liabilities

Accounting

The governmental funds of the City of Westchester report $601,500

in assets and $214,000 in liabilities. The following are some of the assets reported by this government.
 

-Prepaid items—$16,900.
-Cash from a bond issuance that must be spent within the school system according to the bond indenture—$120,000.
-Supplies—$5,750.
-Investments given by a citizen that will be sold with the proceeds used to beautify a public park—$34,500.
-Cash that the assistant director of finance has designated for use in upgrading the local roads—$43,750.
-Cash from a state grant that must be spent to supplement the pay of local kindergarten teachers—$59,000.
-Cash that the city council (the highest level of authority in the government) has voted to use to renovate a school gymnasium—$80,750. 
On a balance sheet for the governmental funds, what fund balance amounts will be reported by the City of Westchester?
 

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