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goji.go goji.go
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9 years ago
(Journal entries for a Pension Trust Fund)

Moody Village maintains a Pension Trust Fund for its employees. At the start of the year, the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The Fund has the following transactions. Prepare entries to record them in the Fund's accounts

      a.   Bills the General Fund $200,000 for the required annual contribution. The pension plan does not require contributions from the employees
      b.   Receives payment of $200,000 from the General Fund
      c.   Receives interest and dividend income of $150,000 in cash on its investment portfolio
      d.   Receives $215,000 from selling investments carried on the books at $200,000
      e.   Makes new investments totaling $275,000
      f.   Pays annuity benefits of $325,000 to retirees or their spouses
      g.   Pays administrative expenses of $100,000 in cash
      h.   The investments held by the Fund have a fair value of $4,100,000 at year-end.
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Diesel
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f_zah1f_zah1
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9 years ago
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goji.go Author
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#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
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#3
9 years ago
You're very welcome!
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