For each of the items listed below, determine how the amount would be classified in Fund Balance (either nonspendable, restricted, committed, assigned, or unassigned fund balance).1. Inventory...

For each of the items listed below, determine how the amount would be classified in Fund Balance (either nonspendable, restricted, committed, assigned, or unassigned fund balance). 1. Inventory costing $17,000 was purchased to be used for highway repair within the city. 2. The city council voted to erect a statue in a round-a-bout at a cost of $100,000. The cash was expected to come from unassigned cash accounts. 3. A former mayor died and left the city $10 million dollars. The donor specified that only the income could be used to repair pot holes in the suburban areas of the city. 4. The Chief Financial Officer of the city set aside $20,000 to purchase bicycles that would be placed at the entrance to city parks for its citizens to use. 5. The governing board for a public university set aside $20 million to build a new business school. 6. The Chief Financial Officer set aside adoption fees for purchases of animal control equipment. View Solution:

For each of the items listed below determine how the