Hastings College pooled the individual investments of three of its funds on December 31, 2024. The recorded

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Hastings College pooled the individual investments of three of its funds on December 31, 2024. The recorded value and the fair market value of the investments on December 31, 2024, are presented here:image

During 2025, the investment pool earned dividends of $12,000 and interest of $18,000 and distributed
cash in these amounts to the respective funds. Realized gains on transactions of the investment pool amounted to $20,000 and were reinvested in securities held in the pool.


Required:
Prepare the journal entries that are necessary in the records of each of the funds to account for the earnings of the investment pool during 2025.

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Advanced Accounting

ISBN: 9781119794653

8th Edition

Authors: Debra C. Jeter, Paul K. Chaney

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