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, 2020: Cash Meerved Interest receivable Investments in Corporate Bonds Net position weld in Trust Totale Credits $ 10,500 7.500 750,000 100,000 11100000 100.000 Required: a Record the following transactions in the general journal of the City of Monroe Community Foundation Trust Fund for the year ending December 31, 2020 0 On May the first semiannual interest payment ($22.500) was received on the corporate bonds. The bonds pay 6 percent annual Interest, semiannually on May 1 and November 1 (2) During the first half of the year, additional contributions from Individuals and foundations amounted to $211000, in cash. From these funds, $200,000 were invested in RST Corporation stock on June 15 3 On November 1, the second semiannual interest payment ($22,500) was received from the investment in bonds (4) On November 15, a dividend was declared by RST Corporation in the amount of $2.000 and was received in cash (5) On December 1, RST Corporation stock was sold for $204,000 cash. Those funds were immediately invested in UWW Corporation stock (6) On December 15, cash scholarships in the amount of $51,000 were made to various college students On December 31, an accrual was made for year-end interest on the corporate bonds. (8) Alto, on December 31, t was determined that the market value of the corporate bonds, exclusive of accrued interest, was $752300 and that the market value of UVW Company stock was $199.000 Pose the entries to the Community Foundation Trust ledger (T-accounts) Prepare and post an entry closing all nominal accounts to Net position 7-C. Part 2. Pension Trust Fund Transactions The City of Monroe Police Department pension plan a single entployer defined benefit plan, reported the following account balances as of January 1, 2020 Cash acred Interest Receivable Investments Bonde Investments Como Stock Accounts Payable met positioned in Trust for ployee Benefits Totale Debita Credits $ 52,000 75.000 5.300,000 2.790.000 42.000 0275.000 D1000 212.000 Required: Record the following transactions in the general journal of the City of Monroe Police Department Pension Trust Fund for the year ending December 31, 2020 Member contributions were received in the amount of $403,000. The City General Fund contributed the same amount (2) Interest was received in the amount of $212,000, including the accrued interest receivable at the beginning of the year. The Interest accrual at year end amounted to $81.000. During the year, dividends received on common stock amounted to $125.000 (4) Investments were made during the year in common stock in the amount of $650,000 (5) Annuity benefits in the amount of $325,400, disability benefits of $79.900 and refunds to nonvested terminated employees of context Prey 101 !!! Next > 1 Post the entries to the Community Foundation Trust ledger (Taccounts Prepare and post an entry closing all nominal accounts to Net position 7-C Part 2. Pension Trust Fund Transactions The City of Monroe Police Department pension plan, a single employer defined benefit plan, reported the following account balances as of January 1, 2020 Eredi Cat # 157,00 rotateret ble 75,000 Taveta 5.100.000 Taveta Con St 2,150.000 Au Payable 0.000 et position in Tutter pee Benefits 0.125.000 Total 000 DO Required: a Record the following transactions in the general journal of the City of Monroe Police Department Pension Trust Fund for the year ending December 21 2020 Member contributions were received in the amount of $403.000 The City General Fund contributed the same amount 2) Interest was received in the amount of $212.000, including the accrued interest receivable at the beginning of the year. The interest accruat year end amounted to $81,000 During the year, dividends received on common stock mounted to $125.000 14 investments were made during the year in common stock in the amount of $650.000 15 Annuity benefits in the amount of $325.400, disability benefits of $79,900 and refunds to nonvested terminated employees of $40.600 were recorded as tables (5) Accounts payable in the amount of $460.700, were paid cash During the year common stock valued at $505.000 was sold for $506.800 A portion of these funds. $500,000 were imested in common stock of a different company Myear-end, the market value of investments in bonds increased by $2750, the market value of investments in stocks decreased by $200 Post the entries to the Police Department Pension Trustleder (accounts Prepare and post an entry closing al nominal accounts to Net position 7-C. Part Fuciary Fund Financial Statements Required Using the balances from Parts and prepare the following 1 Sument of Changes induciary Net position 2. Sement of Fiduciary Netposition Complete the question by entering your answers in the tabs below Frete MT PTPT res herenschon in the generalul the Cofre Community Foundation Trusted for the new Pry Nest MacBook Air F1 80 F3 F2 DOO 000 F4 FS 0 17 ! @ # A % 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, 2020: Cash Meerved Interest receivable Investments in Corporate Bonds Net position weld in Trust Totale Credits $ 10,500 7.500 750,000 100,000 11100000 100.000 Required: a Record the following transactions in the general journal of the City of Monroe Community Foundation Trust Fund for the year ending December 31, 2020 0 On May the first semiannual interest payment ($22.500) was received on the corporate bonds. The bonds pay 6 percent annual Interest, semiannually on May 1 and November 1 (2) During the first half of the year, additional contributions from Individuals and foundations amounted to $211000, in cash. From these funds, $200,000 were invested in RST Corporation stock on June 15 3 On November 1, the second semiannual interest payment ($22,500) was received from the investment in bonds (4) On November 15, a dividend was declared by RST Corporation in the amount of $2.000 and was received in cash (5) On December 1, RST Corporation stock was sold for $204,000 cash. Those funds were immediately invested in UWW Corporation stock (6) On December 15, cash scholarships in the amount of $51,000 were made to various college students On December 31, an accrual was made for year-end interest on the corporate bonds. (8) Alto, on December 31, t was determined that the market value of the corporate bonds, exclusive of accrued interest, was $752300 and that the market value of UVW Company stock was $199.000 Pose the entries to the Community Foundation Trust ledger (T-accounts) Prepare and post an entry closing all nominal accounts to Net position 7-C. Part 2. Pension Trust Fund Transactions The City of Monroe Police Department pension plan a single entployer defined benefit plan, reported the following account balances as of January 1, 2020 Cash acred Interest Receivable Investments Bonde Investments Como Stock Accounts Payable met positioned in Trust for ployee Benefits Totale Debita Credits $ 52,000 75.000 5.300,000 2.790.000 42.000 0275.000 D1000 212.000 Required: Record the following transactions in the general journal of the City of Monroe Police Department Pension Trust Fund for the year ending December 31, 2020 Member contributions were received in the amount of $403,000. The City General Fund contributed the same amount (2) Interest was received in the amount of $212,000, including the accrued interest receivable at the beginning of the year. The Interest accrual at year end amounted to $81.000. During the year, dividends received on common stock amounted to $125.000 (4) Investments were made during the year in common stock in the amount of $650,000 (5) Annuity benefits in the amount of $325,400, disability benefits of $79.900 and refunds to nonvested terminated employees of context Prey 101 !!! Next > 1 Post the entries to the Community Foundation Trust ledger (Taccounts Prepare and post an entry closing all nominal accounts to Net position 7-C Part 2. Pension Trust Fund Transactions The City of Monroe Police Department pension plan, a single employer defined benefit plan, reported the following account balances as of January 1, 2020 Eredi Cat # 157,00 rotateret ble 75,000 Taveta 5.100.000 Taveta Con St 2,150.000 Au Payable 0.000 et position in Tutter pee Benefits 0.125.000 Total 000 DO Required: a Record the following transactions in the general journal of the City of Monroe Police Department Pension Trust Fund for the year ending December 21 2020 Member contributions were received in the amount of $403.000 The City General Fund contributed the same amount 2) Interest was received in the amount of $212.000, including the accrued interest receivable at the beginning of the year. The interest accruat year end amounted to $81,000 During the year, dividends received on common stock mounted to $125.000 14 investments were made during the year in common stock in the amount of $650.000 15 Annuity benefits in the amount of $325.400, disability benefits of $79,900 and refunds to nonvested terminated employees of $40.600 were recorded as tables (5) Accounts payable in the amount of $460.700, were paid cash During the year common stock valued at $505.000 was sold for $506.800 A portion of these funds. $500,000 were imested in common stock of a different company Myear-end, the market value of investments in bonds increased by $2750, the market value of investments in stocks decreased by $200 Post the entries to the Police Department Pension Trustleder (accounts Prepare and post an entry closing al nominal accounts to Net position 7-C. Part Fuciary Fund Financial Statements Required Using the balances from Parts and prepare the following 1 Sument of Changes induciary Net position 2. Sement of Fiduciary Netposition Complete the question by entering your answers in the tabs below Frete MT PTPT res herenschon in the generalul the Cofre Community Foundation Trusted for the new Pry Nest MacBook Air F1 80 F3 F2 DOO 000 F4 FS 0 17 ! @ # A %