Answer 1- Statement of Changes in Fiduciary Net Position
Divisdend Income- $ 55000
Less:-
Distribution for college tutuion $ 40000
Net Surplus $ 15000
Answer-2 - Statement of Fiduciary Net Position
Marketable securities --------------------------$ 800,000
Corporate Securities at Fair Value---------$ 490,000
Surplus of Dividend over distribution------$ 15,0000
Total Value of Fiduciary Postion ------------$ 1305,000
PREPARE FINANCIAL STATEMENTS ONLY - DO NOT SHOW THE JOURNAL ENTRIES... The city of Mothell has...
7–C. Part 1. Private Purpose Trust Fund Transactions The City of Monroe Scholarship Foundation private-purpose trust fund had the following account balances on January 1, 2017: Debits Credits Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 50,500 Accrued Interest Receivable . . . . . . . . . . . ....
Journal entries for General Fund financial transactions for Croton City Prepare journal entries, as appropriate, to record these transactions. (We suggest you post the journal entries to general ledger T-accounts.) Note: The Croton City continuing problem is introduced in Chapter 3 on page 3-32. You should review the scenario in Chapter 3 before preparing the journal entries for the General Fund in this chapter. 1. Of the $800 in property taxes receivable at January 1, $780 was collected in cash....