User Account

All Pages

What percentage interest in the pool is held by the town

Assignment Help Accounting Basics
Reference no: EM131698976

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

Required

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

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

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

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

(d) On June 30, the Forrester County general fund itself invested in the investment pool 1,000,000. Please show the entry in both the general fund and the investment trust fund.

Reference no: EM131698976

Questions Cloud

Dollar pizzas has a frequent purchaser program : Dollar Pizzas has a frequent purchaser program, called Circle of Mozzarella, in which patrons earn points with every purchase.
What elements of the film are characteristic of that genre : What elements of the film are characteristic of that genre. How does it fulfill the expectations of that genre. How does it play against these expectations
Determine when revenue should recognized in measuring income : Discuss the factors to be considered in determining when revenue should be recognized in measuring the income of a business enterprise.
Personal experience and judgment : You don't need to do research; just use your personal experience and judgment. You may want to check out the product's website.
What percentage interest in the pool is held by the town : What percentage interest in the pool is held by the town and the school district? Show the entry in the Investment Trust Fund
Discuss what are some arguments against auteurist theory : Much in the same way people have favorite authors who create certain expectations from their writing, we have the auteurist theory in film
Types of consumer offerings with four categories : This section of the week's readings describes the types of consumer offerings with four categories:
Calculate cost per patient day using activity-based approch : Trinity Clinic has identified three activities for daily maternity care: occupancy and feeding, nursing, and nursing supervision.
Determine which costs should be included in the inventory : What do you think about criteria used to determine which costs should be included in inventory? Why lower of cost or market rule is used to report inventory?

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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