The schedule below reports the beginning balances and activity during the year in a town's supplies fund. The government accounts for supplies on a purchases basis. Fund Balance (unassigned 1/1)=$400, Fund Balance (reserved for encumbrance 1/1) $240, Fund Balance (non-dispensable 1/1) $170, Total fund balance, January 1=$810, Appropriations $3,400, Actual Revenues $3,200, Supplies ordered $3,660, Supplies received $3,590, Supplies paid-for $2,800, Supplies used $3,280.

Find:

a) Reserve for Encumbrance is:

b)Year-End-non dispensable for inventory is:

c)Expenditure under the consumption method for the period is:

Answer rating: 100% (QA)

Towns Supplies Fund Analysis Given Beginning Fund Balances Unassigned 400 Reserved for Encumbrance 2... View the full answer