4. Read the scenario below and explain to the

g The Investment Trust Fund for Watson County had the following transactions and events during the calendar year 2022: 1. The ci

sergeinik [125]

The Journal Entries recording the transactions for Investment Trust Fund by Watson County are as follows:

Journal Entries for 2022:

1. Debit Cash $250,000

Credit Contributions, Turtle Creek $150,000

Credit Contributions, Pineview $100,000

To record the contributions by the two cities to the Investment Trust Fund.

2. Debit Investments $187,500

Credit Cash $187,500

To record the purchase of investments.

3. Debit Cash $20,000

Credit Interest Income from Investments $20,000

To record interest income received from investments during the year.

4. Debit Investment Management Fees (Watson County) $3,750

Credit Cash $3,750

To record the payment of management fees to the county.

5. Debit Investments $7,500

Credit Fair Value Gain $7,500

To record the increase in value of investments.

6. Debit Turtle Creek & Pineview Cities $25,000

Credit Cash $25,000

To record the payment of income to the two cities.

Data Analysis:

1. Cash $250,000 Contributions, Turtle Creek $150,000 Contributions, Pineview $100,000

2. Investments $187,500 Cash $187,500

3. Cash $20,000 Interest Income from Investments $20,000

4. Investment Management Fees (Watson County) $3,750 Cash $3,750

5. Investments $7,500 Fair Value Gain $7,500

6. Turtle Creek & Pineview Cities $25,000 Cash $25,000

Thus, the journal entries above record the transactions and events that occurred for the Investment Trust Fund of Watson County for the two cities of Turtle Creek and Pineview for the year 2022.

Read more about recording Investment Trust Fund transactions at brainly.com/question/15088437

5 0

2 years ago

Beth needs a new roof. She finds Clancy, a roofing contractor, through an ad he posted in the local newspaper. Clancy paid $60 t

BARSIC [14]

Answer:

The transaction costs associated with this exchange are $155

Explanation:

The computation of the transaction cost which is associated with this exchange is shown below:

= Ad charges in the newspaper + law firm write up charges

= $60 + $95

= $155

It includes various cost like - transportation cost, legal fees, communication charges, etc.

The installation of Beth's new roof is not considered in the computation part because it is not an exchange transaction cost. So, this cost is ignored.

6 0

3 years ago

What role does budget play and why exhibiting responsible money management behavior is important to reaching future financial go

larisa [96]

Answer:

Some entities will follow a top-down mandatedapproach to budgeting. These budgets will begin with upper-level management establishing parameters under which the budget is to be prepared. These parameters can be general or specific. They can cover sales goals, expenditure levels, guidelines for compensation, and more. Lower-level personnel have very little input in setting the overall goals of the organization.

Explanation:

7 0

3 years ago

Selected data from the Florida Fruit Company are presented below: Total assets $1,500,000 Average total assets 1,850,000 Net inc

Mkey [24]

Answer:

13.5%

Explanation:

Relevant data provided for computing the profit margin which is here below:-

Net Income = $175,000

Net Sales = $1,300,000

The computation of profit margin is shown below:-

Profit Margin = (Net Income ÷ Net Sales) × 100

= ($175,000 ÷ $1,300,000) × 100

= 13.5%

Therefore for computing the profit margin we simply applied the above formula.

5 0

3 years ago

Chip used the local yellow pages to compile a random sample of 100 small businesses to take part in his experiment about hiring

mel-nik [20]

From the given description, Chip is using an experimental design called (A) matching.

Matching <u>is a type of experimental design where the researcher divide his or her samples into two groups of treatment conditions, which serves to ensure that before the treatment, both groups have the samples with the same characteristics, thus ensuring that the results of the experiment would not be influenced by any confounding variables that the samples have.</u>

Chip is doing this to ensure that samples that have been influenced by other variables which determine their decision to hire are distributed evenly in both the experimental and control group.

5 0

3 years ago