Below you will find some common scenarios you would encounter as a Fund Administrator. To the best

Fantastic news! We've Found the answer you've been seeking!

Question:

Below you will find some common scenarios you would encounter as a Fund Administrator. To the best of your ability, read each problem and fill in the T-Account table for the corresponding debit and credit entries for each scenario.

Problem 1:

The client paid a $5,000 audit invoice which was expensed in the prior period out of their bank account.

Problem 2:

The client sent you a Legal invoice for $10,000 that was not paid during the quarter but needs to be expensed this period.

Problem 3:

A Limited Partner contributed capital that was unpaid as of the prior period end in the amount of $25,000

Problem 4:

The client made an investment purchase totalling $20,000 out of their bank account.

Problem 5:

The client requested one of their existing investments' value be updated from $200,000 to $450,000 during the period

Problem 6:

One of the client's investments is an interest-bearing debt instrument. Reference the Legal Agreements tab for the details about the interest accrual and book this period's entry.

Problem 7:

The client notified you that this period's management fee had not been paid. Reference the Legal Agreements tab for the management fee calculation details and book this period's Management Fee.