User Account

All Pages

Purpose trust fund that supplies books for children

Assignment Help Accounting Basics
Reference no: EM13871312

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.
1. A citizen donated $ 500,000 to a Private Purpose Trust Fund. The trust specified that this money was to be used to acquire children books for battered women shelters.
2. The fund invested $ 420,000 in CDs.
3. Books costing $ 45,000 were acquired.
4. Interest income of $ 20,000 was received in cash from the CDs.
5. The accounts were closed for the year.

Reference no: EM13871312

Questions Cloud

Which operating systems are best for particular hardware : Your task is to explain to her which operating systems are best for particular hardware - Should would like your help installing Windows 8.1 on the new Apple as she really likes the Windows operating system.
The most important document with respect to a private : The most important document with respect to a Private Purpose Trust Fund
Would you ever lie to protect another officer : Because of the high level of trust that police officers must have in one another, would you ever lie to protect another officer who was involved in misconduct
What the long-run industry supply curve for the industry : What the long-run industry supply curve for this industry? Suppose demand is given by D(p) = 400 - lOOp. What is the long-run equilibrium for this industry?
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.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Hank itzek manufactures and sells homemade wine and he

hank itzek manufactures and sells homemade wine and he wants to develop a standard cost per gallon. the following are

  The partners investments

Prepare the journal entries to record each of the partners' investments.

  Rainwater corp expects to sell 560 umbrellas in may and 440

rainwater corp. expects to sell 560 umbrellas in may and 440 in june. each umbrella sells for 15. rainwateru2019s

  Determining transaction fee of underwriting

Sherman Brothers, Inc., sold 4 million shares in its IPO, at a price of $18.50 per share. Management negotiated a fee (the underwriting spread) of 7% on this transaction.

  What is their earned income credit in the following

in 2013 amanda and jaxon stuart have a daughter who is one year old. the stuarts are full-time students and they are

  Prepare a net operating loss schedule

Prepare a net operating loss schedule

  What other services can cpa firms provide what is an

what other services can cpa firms provide?what is an attestation engagement?what is an agreed-upon procedure?how do

  Brislin corporation is issuing 181720 of 5 5-year bonds

brislin corporation is issuing 181720 of 5 5-year bonds when potential bond investors want a return of 16. interest is

  Inventory valuation and revenue recognition

Paul Jeter is a junior member of an audit team and his team is debating the impact of the client's right of return policy both on inventory valuation and revenue recognition.

  Presented below is information related to kienholz company

presented below is information related to kienholz company for its first month of operations. credit sales cash

  Discuss the various methods for revenue recognition how and

what are the various methods for revenue recognition? how and when does the company recognize revenue? do they

  What is pedro charitable contribution

Pedro's child attends a school operated by the church the family attends. Pedro made a donation of $1,000 to the church in lieu of the normal registration fee of $200. In addition, Pedro paid the regular tuition of $6,000 to the school. Based on t..

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