Question

Record the following endowment activity events of Private University:
1. An alumnus donates $250,000 to the endowment fund. The cash is fully invested in bonds with a face value of $242,000 that are purchased at an $8,000 premium. The income earned is to be available for the current restricted fund for curriculum improvement.
2. A check for $11,250 for interest is received. The premium amortization is $667.
3. The income is transferred to the restricted current fund.
4. The bonds are sold for $260,500.


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  • CreatedApril 13, 2015
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