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The following transactions of Beltville College transpired during 2 0 2 5 . The funds necessary are the Endowment Fund, the Annuity . : '
The following transactions of Beltville College transpired during The funds necessary are the Endowment Fund, the Annuity : To trancfer invelment income to func To rocord interest recelved To rocord trancifer of funds Ta record income To record recrsipt To rocord sale of notres Fund, the Plant FundUnexpended, the Plant FundInvestment in Plant, the Loan Fund, the Unrestricted Current Fund, and the Restricted Current Fund. January A gift of $ was received from Carl Brown. The principal was to be held intact and the income to be used for any purpose designated by the governing board. David Gross donated $ The principal was to be held intact and the income to be used for scholarships for worthy students. Roxanne Norton donated $ of which the principal was to remain intact while the interest was to be used for student loans. All income is to be relent; all losses from loans are to be charged against income. A gift of $ was received from Brian Carr. Semiannual payments of $ are to be made to the donor during his lifetime. On his death the fund is to be used to purchase or construct a students' residence. Mr Carr has a life expectancy of five years and investments are expected to earn annually. Kathy Jackson donated shares of BIM stock, which had a market value of $ per share on that date. All income received from the shares is to be held intact and the shares cannot be held for more than five years. Once the board sells the shares, all the proceeds are to be used to build a student hospital. The assets of the Brown and Gross funds were consolidated into a pooled investment account by the governing board in proportion to the principal accounts Electric Power Bonds worth $ were purchased. The interest was payable on January and July The Norton Fund cash is used to purchase Cravit Company bonds at par for $ January and July are the interest dates. With the cash from the Carr Fund, $ of US Treasury notes was purchased at par. The interest dates are January and July July The interest was received on all bonds and notes and was transferred to the proper funds. Dividends of $ were received from BIM stock. The stipulated payment is made to Mr Carr from the Endowment Fund. Electric Power Company bonds bought at par value for $ are sold at The gain is added to the principal. A $ student loan was made from the Norton Fund. October A notice of Brian Carr's death is received. There is no liability to his estate. The Gross Scholarship Fund awards a $ scholarship. $ par of US Treasury notes are sold for $ December Interest on bonds is received. $ of principal and $ of interest were repaid on the student loan. A building was purchased for $ using the funds available from the Carr gift. The residence hall will have a year mortgage payable to account for the balance.
The following transactions of Beltville College transpired during The funds necessary are the Endowment Fund, the Annuity
:
To trancfer invelment income
to func
To rocord interest recelved
To rocord trancifer of funds
Ta record income
To record recrsipt
To rocord sale of notres
Fund, the Plant FundUnexpended, the Plant FundInvestment in Plant, the Loan Fund, the Unrestricted Current Fund, and the
Restricted Current Fund.
January
A gift of $ was received from Carl Brown. The principal was to be held intact and the income to be used for any
purpose designated by the governing board.
David Gross donated $ The principal was to be held intact and the income to be used for scholarships for worthy
students.
Roxanne Norton donated $ of which the principal was to remain intact while the interest was to be used for student
loans. All income is to be relent; all losses from loans are to be charged against income.
A gift of $ was received from Brian Carr. Semiannual payments of $ are to be made to the donor during his
lifetime. On his death the fund is to be used to purchase or construct a students' residence. Mr Carr has a life expectancy of
five years and investments are expected to earn annually.
Kathy Jackson donated shares of BIM stock, which had a market value of $ per share on that date. All income
received from the shares is to be held intact and the shares cannot be held for more than five years. Once the board sells the
shares, all the proceeds are to be used to build a student hospital.
The assets of the Brown and Gross funds were consolidated into a pooled investment account by the governing board in
proportion to the principal accounts Electric Power Bonds worth $ were purchased. The interest was payable
on January and July
The Norton Fund cash is used to purchase Cravit Company bonds at par for $ January and July are the
interest dates.
With the cash from the Carr Fund, $ of US Treasury notes was purchased at par. The interest dates are January
and July
July
The interest was received on all bonds and notes and was transferred to the proper funds. Dividends of $ were
received from BIM stock.
The stipulated payment is made to Mr Carr from the Endowment Fund.
Electric Power Company bonds bought at par value for $ are sold at The gain is added to the principal.
A $ student loan was made from the Norton Fund.
October
A notice of Brian Carr's death is received. There is no liability to his estate.
The Gross Scholarship Fund awards a $ scholarship.
$ par of US Treasury notes are sold for $
December
Interest on bonds is received.
$ of principal and $ of interest were repaid on the student loan.
A building was purchased for $ using the funds available from the Carr gift. The residence hall will have a year
mortgage payable to account for the balance.
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