5. At the end of the year, undistributed earnings were allocated to the investment pool participants. Assume that there were no additional changes in the fair value of investments after the Richwood Township withdrawal. Round the amount of the distribution to each fund or participant to the nearest dollar. 5 Investment Pool Trust Fund Undistributed Earnings on Pooled Investments Due to General Fund Additions-Investment Earnings-Albertville Schools Additions-Investment Earnings-Richwood Township 100,000
5. At the end of the year, undistributed earnings were allocated to the investment pool participants. Assume that there were no additional changes in the fair value of investments after the Richwood Township withdrawal. Round the amount of the distribution to each fund or participant to the nearest dollar. 5 Investment Pool Trust Fund Undistributed Earnings on Pooled Investments Due to General Fund Additions-Investment Earnings-Albertville Schools Additions-Investment Earnings-Richwood Township 100,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Please Finish the Journal entry in the picture
The Albertville City Council decided to pool the investments of its General Fund with Albertville Schools and Richwood Township in an investment pool to be managed by the city. Each of the pool participants had reported its investments at fair value as of the end of 2022. At the date of the creation of the pool, February 15, 2023, the fair value of the investments of each pool participant was as follows:
| Investments | ||||||||
| 12/31/22 | 2/15/23 | |||||||
| City of Albertville General Fund | $ | 895,500 | $ | 927,500 | ||||
| Albertville Schools | 4,211,000 | 4,359,250 | ||||||
| Richwood Township | 4,000,000 | 3,988,250 | ||||||
| Total | $ | 9,106,500 | $ | 9,275,000 | ||||
Transcribed Image Text:5. At the end of the year, undistributed earnings were allocated to the investment pool participants. Assume that there were no additional changes in the
fair value of investments after the Richwood Township withdrawal. Round the amount of the distribution to each fund or participant to the nearest dollar.
5 Investment Pool Trust Fund
Undistributed Earnings on Pooled Investments
Due to General Fund
Additions-Investment Earnings-Albertville Schools
Additions-Investment Earnings-Richwood Township
100,000
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