User Account

All Pages

Based on the relative amount of their initial investment

Assignment Help Accounting Basics
Reference no: EM13871308

Based on the information in E8- 4, prepare a statement of changes in fiduciary fund net position and a statement of fiduciary fund net position for Seggen County for its fiscal year ending December 31, 2013. (Assume that Seggen County net position at the beginning of the year was zero.)
In E8- 4
Prepare the journal entries to record the following transactions in an Investment Trust Fund for Seggen County during the calendar year 2013.
1. Turtle Creek and Pineview contributed $ 60,000 and $ 40,000, respectively, to an Investment Trust Fund operated by Seggen County during 2013.
2. Investments totaling $ 75,000 were purchased.
3. Income from the investments during the year totaled $ 8,000.
4. The fund paid $ 1,500 to the county for investment management fees.
5. The investments increased in value by $ 3,000.
6. Income of $ 10,000 was paid to the two cities, based on the relative amount of their initial investment.

Reference no: EM13871308

Questions Cloud

Purpose trust fund that supplies books for children : Record the following journal entries in the Children Book Fund a city Private Purpose Trust Fund that supplies books for children in privately owned battered women shelters.
Discuss a state law or nursing statute that can be applied : Discuss a state law or nursing statute that can be applied to the scenario
Carter company paid the interest due : On December 31, 2010, Central Bank agrees to a restructuring of a 12% note with a $200,000 face value and $60,000 of accrued interest owed to the bank by Carter Company.
Provide an opinion regarding the management of business : Determine at least five recommendations regarding management issues to consider if the investment group chooses to invest and why - Develop an organization chart.
Based on the relative amount of their initial investment : The investments increased in value by $ 3,000 Income of $ 10,000 was paid to the two cities, based on the relative amount of their initial investment.
Calculate the hall voltage for an experiment : Consider Hall's experiment indicated in Fig. 1. The material is a metal with a density n of charge carriers each with charge q and mass m. The Hall voltage VH  is measured for a given applied field B current I and conductor thickness t.
The stilbene dibromide product : How many asymmetric carbon centers are present in the stilbene dibromide product? is the product Chiral? Explain.
How many moles of the product can be formed : If 3.5 moles of nitrogen monoxide (NO) react with 6.0 moles of oxygen gas (O2), how many moles of the product can be formed and how many moles of the excess reactant will be left over when the reaction is complete? Show all of your work.
Investment trust fund for seggen county : Prepare the journal entries to record the following transactions in an Investment Trust Fund for Seggen County during the calendar year 2013.

Reviews

Write a Review

Accounting Basics Questions & Answers

  A company expects its september sales to be 15 higher than

a company expects its september sales to be 15 higher than its august sales of 140000. purchases were 75000 in august

  Cost of merchandise sold

Complete the tables below to determine each layer for the cost of merchandise sold and the ending inventory (for ending inventory, start with the last layer and work backwards).

  A parent acquires all of a subsidiarys common stock and 60

a parent acquires all of a subsidiarys common stock and 60 percent of its preferred stock. the preferred stock has a

  During your audit of racewaycom inc you conclude that

during your audit of raceway.com inc. you conclude that theres is a possibility that inventory is materially oversated.

  A proposed new investment has projected sales of 832000

a proposed new investment has projected sales of 832000. variable costs are 57 percent of sales and fixed costs are

  Ledger accounts and post the april transactions

Using T accounts, enter the beginning balances in the ledger accounts and post the April transactions. Prepare a trial balance on April 30, 2010.

  Prepare the journal entry to record transaction for jupiter

Jupiter Company sells goods on January 1 that have a cost of $500,000 to Danone Inc - Prepare the journal entry to record this transaction at the date of sale

  Measurement of present value of expected cash flows

How do you measure the present value of expected cash flows? Describe the difference between present value and an annuity due and when is such a difference relevant to a given business transaction?

  Determining cash conversion cycle

Assume a firm's production process requires an average of 75 days to go from raw materials to finished goods sold. If the accounts receivable cycle is 90 days and the accounts payable cycle is 80 days

  Steve and linda hom live in bartlesville oklahoma two years

steve and linda hom live in bartlesville oklahoma. two years ago they visited thailand. linda a professional chef was

  An outside supplier has offered to make and sell the part

fillip corporation makes 4000 units of part u13 each year. this part is used in one of the companys products. the

  There are 18 employees working for universal maintenance co

there are 18 employees working for universal maintenance co.. they are paid every second monday for 10 workdays ending

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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