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Please do in excel The City of Richmond maintains a Public Employee Retirement Trust Fund for its public safety employees during the year ended June
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The City of Richmond maintains a Public Employee Retirement Trust Fund for its public safety employees during the year ended June 30. 2015. the following transactions occurred The City contributed $ 1, 200.000 in cash to the plan Employee members contributed an additional $ 1, 200.000 Annuity benefits in the amount of $255,000 were recorded as liabilities Annuity benefits, previously recorded as liabilities, were paid in cash in the amount of $207,000 Investment income received in cash amounted to $102,000 In addition. $16,000 m interest receivable was accrued at year-end. Additional investments in the amount of $2, 100,000 were purchased The market value of investments decreased by $9, 100 Nominal accounts for the year were closed Required Prepare journal entries for the above transactions on the hooks of the City of Richmond Public Safety Employee Retirement Trust FundStep by Step Solution
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