(Answered) Problem - below is information on total assets for various

Accounting

Problem - Below is information on total assets for various funds of the City of Dublin (all amounts are in thousands of dollars).

Fund Assets

General $1,300

Federal Grants Special Revenue 500

State Grants Special Revenue 200

City Hall Capital Projects 900

Debt Service 700

Water and Sewer Enterprise 8,000

Swimming Pool Enterprise 1,000

Fleet Management Internal Service 10,800

Employee Pension Fund 6,500

Requirement: Prepare a schedule computing the threshold for asset amounts that should be used to determine which funds must be reported as major. Identify which funds are major funds.

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