Presented below is the preclosing trial balance for the Scholarship Fund, a private-purpose trust fund, of the
Question:
Prepare the year-end closing entries and a Statement of Changes in Fiduciary Net Assets for the year ended December 31,2012.
Transcribed Image Text:
Trial Balance-December 31, 2012 Accounts Payable Accrued Interest Receivable Administrative Expense Cash Decrease in Fair Value of Investments Distributions-Scholarships Interest Income Investment in Bonds Net Assets Held in Trust Debits Credits $ 8,000 2,000 6,000 42,000 10,000 35,000 53,600 240,000 1,273,400 $1,335,000 $1,335,000
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ALGONQUIN SCHOOL DISTRICT SCHOLARSHIP TRUST FUND GENERAL JOURNAL FISCAL YEA...View the full answer
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Jonas Araujo
I have recently received the degree of PhD. In Physics by the Universidade Federal do Maranhão after spending a term in Durham University, as I have been awarded a scholarship from a Brazilian mobility program. During my PhD. I have performed research mainly in Theoretical Physics and published works in distinguished Journals (check my ORCID: https://orcid.org/0000-0002-4324-1184).
During my BSc. I have been awarded a scholarship to study for a year in the University of Evansville, where I have worked in detection-analysis of photon correlations in the the Photonics Laboratory. There I was a tutor in Electromagnetism, Classical Mechanics and Calculus for most of that year (2012).
I am very dedicated, honest and a fast learner, but most of all, I value a job well done.
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Related Book For
Essentials of Accounting for Governmental and Not-for-Profit Organizations
ISBN: 978-0073527055
10th Edition
Authors: Paul A. Copley
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