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please for the Required B2, choose from the options that i included Prenare a Statement of Fiduciary Net Position. The above events and transactions occurred

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Prenare a Statement of Fiduciary Net Position. The above events and transactions occurred during the fiscal year ended June 30, 2020. Record them in the Belvedere Community Trust Fund. (If no entry is required for a transaction/event, select "No Joumal Entry Reguired" in the first account field.? \begin{tabular}{l|l|l} Required A & Required B1 & Required B2 \end{tabular} Prepare a Statement of Fiduciary Net Position. CITY OF BELVEDERE Statement of Fiduciary Net Position Community Trust Fund As of June 30,2020 Assets Cash Income Taxes Payable Investments in Corporate Bonds Investments in Corporate Equities Other Accrued Expenses Payable Trust Fund Activities Total Liabilities Fiduciary Net Position Restricted for Private Purpose Total Net Position s Required B1 Prepare a Statement of Fiduciary Net Position. Prepare a Statement of Changes in Fiduciary Net Position for the Belvedere Community Trust Fund. On July 1, 2019, the Ciry of Belvedere accepted a gift of cesh in the amount of $3,400,000 from a number of individuals and foundations and signed an agreemert to establish a private-putpose trust. The $3,400,000 and any additional gifts are to be invested and retained as principal income from the trust is to be distributed to community nonprofit groups as directed by a Board consisting of cily officials and other community leoders. The agreement provides that any increases in the market value of the principal imvestments are to be held in trust, if the irvestments fall below the gif amounts, then earnings are to be withineld until the principal amount is feestablished The following events and transactions occurred during the fiscal year ended June 30, 2020. Record them in the Belvectere Communiry Trust Fund: 1. On July 1, the original gift of cash was received 2. On August 1,\$2,220,000 in XYZ Company bonds were purchased at par plus acciued interest (\$37000). The bonds pay an annual rate of 5 percent interest semiannually on Apt 1 and Octobet 1 3 On August 2.$909,000 in ABC Cormpany common stock was purchased. ABC normally declares and pays dividends semiannually. on January 31 and July 31 4. On October 1, the first semiannual interest payment ($55,500) was received from XYZ Company Note that part of this is for accrued interest due at the time of purchase, the remaining part is an addition that may be used for distribution. 5. On January 31 a cash dividend was recelved from ABC Company in the amount of $25,000. 6. On March 1, the ABC stock was sold for $921,000 On the same day. DEF Company stock was purchosed for $984,000 7. On Aprit t, the second semiannual interest paymont was received from XrZ Compary 8 During the month of June, distributions were approved by the Board and paid in cash in the amount of $97,000 9. Administrative expenses were recorded and paid in the amount of $7,400 10. An accrual for interest on the XYZ bonds was made as of June 30,2020 11. As of June 30,2020, the fair value of the XYZ bonds, exciusive of accrued interest. was determined to be $2,221000. The fair value of the DEF stock was determined to be $980,000. 12 Closing entries were prepared. Required: B. The above events and transoctions occurred during the fiscol year ended June 30,2020 . Record them in the Belvedere Community Trust Fund b. Prepare (1) a Statement of Changes in Fiducary Net Positon for the Belvedere Communty Trust Fund and (2) a Statement of Fiduciary Net Position

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