Question: In the appendix to this chapter, the balance sheet for the General Fund for the City of Atlanta is reported. 1. How is the format

In the appendix to this chapter, the balance sheet for the General Fund for the City of Atlanta is reported.

1. How is the format used on the balance sheet for the general fund different from the format used by for-profit organizations? Which categories of the balance sheet seem to be missing for government funds?

2. What is the largest asset reported in the General Fund? Is this surprising?

3. For the General Fund, the assigned fund balance includes $8,537 for encumbrances. What does this balance represent?

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