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The amount shown as Fund balance (unassigned) has not changed since the year started. The amount...

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Accounting

The amount shown as Fund balance (unassigned) has not changedsince the year started. The amount shown as appropriations includesthe amounts appropriated for transfers. Property tax invoices aremailed out on January 10 and are due to be paid on February 10.Property owners that have not paid their taxes are classified asdelinquent on March 10.

DebitsCredits
Cash$4,000
Property taxes receivable, delinquent22,000
Allowance for uncollectible property taxes, delinquent$5,000
Salaries payable6,000
Due to Water Enterprise Fund3,000
Accounts payable16,000
Fund balance (unassigned)3,000
Property tax revenues250,000
Sales tax revenues40,000
Expenditures - salaries220,000
Expenditures - other than personal services23,000
Expenditures - utilities14,000
Transfer to Debt Service Fund30,000
Transfer to Water Enterprise Fund10,000
Estimated revenues (total)297,000
Appropriations (total)
Budgetary fund balance3,000
Totals$623,000$623,000

Assess the financial condition of the village based on theinformation given in. Include a discussion of the village's quickratio, number of days’ cash on hand, and budgetary cushion indeveloping your conclusion.

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