Cullumber 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: Loan fund Quasi-endowment fund Life income fund Total Recorded Value $112,000 116,600 144,400 $373,000 Fair Value $99,000 138,600 158,400 $396,000 During 2025, the investment pool earned dividends of $10,400 and interest of $16,200 and distributed cash in these amounts to the respective funds. Realized gains on transactions of the investment pool amounted to $23,000 and were reinvested in securities held in the pool.
Cullumber 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: Loan fund Quasi-endowment fund Life income fund Total Recorded Value $112,000 116,600 144,400 $373,000 Fair Value $99,000 138,600 158,400 $396,000 During 2025, the investment pool earned dividends of $10,400 and interest of $16,200 and distributed cash in these amounts to the respective funds. Realized gains on transactions of the investment pool amounted to $23,000 and were reinvested in securities held in the pool.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:Cullumber 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:
Loan fund
Quasi-endowment fund
Life income fund
Total
Recorded Value
$112,000
116,600
144,400
$373,000
Fair Value
$99,000
138,600
158,400
$396,000
During 2025, the investment pool earned dividends of $10,400 and interest of $16,200 and distributed cash in these amounts to the
respective funds. Realized gains on transactions of the investment pool amounted to $23,000 and were reinvested in securities held in
the pool.
Transcribed Image Text:Account Titles and Explanation
Loan Fund
Quasi-Endowment Fund
Life Income Fund
Debit
In
Credit
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