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Course Content $/$ Chapter $8/$ Chapter $8$ homework

Chapter $8$ homework

The Investment Trust Fund for Watson County had the following transactions and events during the calendar year $2022$:

The cities of Turtle Creek and Pineview contributed $$108,000$ and $$72,000$ respectively, to an Investment Trust Fund operated by Watson County.

Investments totaling $$135,000$ were purchased.

Interest income from the investments during the year totaled $$14,400.$

The fund paid $$2,700$ to the county for investment management fees.

The investments increased in value by $$5,400$

Total income of $$18,000$ was paid to the two cities.

Using the above information, prepare a statement of changes in fiduciary fund net position and a statement of fiduciary fund net position for Watson County for its fiscal year ending December $31,202$ that Watson County's net position at the beginning of the year was zero.$)$

Enter investment earnings in order of magnitude $($largest to smallest dollar amounts$).$

$\backslash$table$[[\backslash$table$[[$Watson County$],[$Investment Trust Fund Statement of Changes in Fiduciary Net Position$],[$For the Year Ended December $31,2022]]],[$Additions$],[,,$$$,0],[$Investment earnings:$],[-,$$ $0,,],[AA,0,,],[-,-2,700,,],[$Net investment earnings,,,$0],[$Total additions,,,$0],[$Deductions$],[,,,0],[-,,,0],[$Net position$-$beginning of the year,,,$0],[$Net position$-$end of the year,,$$.,0]]$