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Journal entries for a Pension Trust Fund The Pension Trust Fund maintained by the city of Marydell had the following transactions and events during its
Journal entries for a Pension Trust Fund The Pension Trust Fund maintained by the city of Marydell had the following transactions and events during its current fiscal year: 1. Contributions of $1,200,000 were received from General Fund employees, and the General Fund contributed its share of $200,000. 2. The fund paid $1,000 for investment management fees. 3. Investments held by the fund increased in value by $7,000. 4. Depreciation on fund capital assets totaled $1,600 5. Retirement benefits of $15,400 were paid to retirees. 6. Interest of $5,000 and dividends of $2,800 were received from investments. Prepare journal entries to record the transactions and events above for the Pension Trust Fund. If an entry affects more than one debit or credit account, enter the accounts in order of magnitude (largest to smallest balances), debits first. account, enter the accounts in order of magnitude (largest to smallest balances), debits first
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