Evaluate what percentage interest in the pool

Assignment Help Cost Accounting
Reference no: EM1375336

On 1st January, Forrester County is holding investments for Tinsel Town valued at $500,000 in an investment pool, accounted for in an investment trust fund. On 1st January, Valley School District invests $1,500,000 in the pool. Earnings on pooled investments for the 6 months ended June 30 totaling $300,000 were received in cash. Required

1) Evaluate what percentage interest in the pool is held by town and the school district?

2) (a) Show entry in the Investment Trust Fund to record the School District's investment in the pool.

(b) Show entry in Investment Trust Fund to summarize the collection of interest for the six-month period.

(c) show entry in the Investment Trust Fund to record distribution of the interest earned on pooled investments, consider that the interest will be reinvested by the town and school district.

(d) Independent of part (c) show entry in the investment trust fund to record distribution of the interest earned on pooled investments, consider that the interest will be reinvested by the town and school district.

Reference no: EM1375336

Questions Cloud

Evaluate what is most nellie should pay for the bond : Evaluate what is the most Nellie should pay for the bond - Nellie is determining a potential bond purchase that seller purchased 12 years ago for $4,000. The bond matures 8 years from today.
Explain how to put in place a beverage price control hotel : After some quality complaints, the organization has decided to increase its use of chemicals by 50percent. By illustrate what percent has multifactor productivity fallen. Explain how to put in place a beverage price control for hotel.
Create a fixed budget income statement : Create a fixed budget income statement for the planned level of sales and production and create a fixed budget income statement for actual level of sales and production.
Illustrate what impact might the ant kickback issue have : Illustrate what impact might the ant kickback issue have on the working relationship between Stryker also the surgeons who use its orthopaedic hip implants.
Evaluate what percentage interest in the pool : Evaluate what percentage interest in the pool is held by town and the school district and show entry in the Investment Trust Fund to record the School District's investment in the pool.
Examine how a fast-food restaurant could measure its quality : Examine how a fast-food restaurant could measure its quality effectiveness using each of the subsequent definitions of quality: product-depend, user-depend, value-depend also manufacturing-depend.
Motor vehicle repair fund : The Motor Vehicle Repair Fund ordered supplies at an predictable cost of $92,000 and the supplies ordered in (1) were received at invoice costs of $91,400; these invoices were approved for payment.
Xplain why does the problem exist : Even when the hotel is already booked, the manager continue tell staffs take reservations also walk-in customers. Because of this, the hotel does not have the rooms available when the guaranteed reservation clients arrive. Explain why does the pro..
Discuss comparative advantage : Assume that in England five man hours of labor are needed to make each cask of wine and five man-hours are needed to produce each bolt of cloth,

Reviews

Write a Review

 

Cost Accounting Questions & Answers

  Evaluate the labor efficiency

Management accountants usually plan for a small positive cash balance in their cash budgets for all of the following reasons except and Labor efficiency has sometimes been incorrectly referred to in class

  Does shawna recognize any profit or loss

How much profit or loss, if any, does Shawna realize on the transfer? Does Shawna recognize any profit or loss? If so, how much? What is Shawna's basis in her LLC interest?

  Determine the discount

Determine the discount. The amount of cash Hardcover, inc. actually had available to utilize from this loan was:

  Prepare the entry doeby will record to reflect acquisition

Prepare the entry Doeby will record to reflect this additional acquisition.

  Determine the cost incurred by talbot partners

Determine the cost incurred by Talbot Partners compared to the benchmark cost - talbot Partners is planning a process improvement initiative aimed at reducing scheduling conflicts.

  Find how much direct labor should be budgeted for june

Looker Hats is planning to sell 600, and produce felt hats 700 during June. Each hat requires 1/2 yard of felt and 1/4 hour of direct labor. Felt costs $3.00 per yard and employees of the company are paid $20 per hour. Find How much direct labor s..

  Calculate the return on average total equity

Calculate the return on average total equity for the fiscal years ending January and consolidated statement of earnings and the balance sheet of Home Depot, Inc and Subsidiaries.

  Ethical behavior when he turned down the investment

Evaluate the effect that the new product line would have on the profitability of firm as a whole. Should division have produced crimping and waving iron?

  Evaluate chis recognized gain or loss on the exchange

Evaluate Chis recognized gain or loss on the exchange.

  Evaluate the product factory overhead costs

Evaluate the product factory overhead costs, using (a) the direct labor hour plant wide factory overhead rate and (b) the machine hour plant wide factory overhead rate.

  Prepare sunday starrs cash budget

Prepare Sunday Starr's cash budget for January and February in columnar format.

  Evaluate the amount of income assigned to the noncontrolling

Evaluate the amount of income assigned to the noncontrolling and controlling interest

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd