The general fund is the fund used by a government entity to record all the receipts and expenses that are not related with any special purpose fund. In the given case, all the expenses such as purchase of computer equipment, salaries and wages, purchase of electricity and supplies are not related to any special purpose fund of the entity. Therefore all the given expenses should be reported as expenditure under general fund.
The amount to be reported as expenditure under general fund is calculated as follows:- (Amounts in $)
Purchase of Computer Equipment | 10,000 |
Salaries and Wages | 400,000 |
Purchase of electricity | 40,000 |
Purchase of Supplies | 10,000 |
Total | 460,000 |
Hence, the amount to be reported as expenditure under general fund is $460,000.
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