Instructions

Use the following information to complete the yellow highlighted areas on worksheets 8-25a and 8-25b. (These highlighted areas default to 1 until you type in the correct amount.)
As you complete each cell on the worksheet, the cells to the far right will indicate whether your entry is correct or not.
8-25 19e
Fiduciary Fund Financial Statements (LO8-4) The following are the trial balances for the fiduciary funds administrered by the City of Mariville as of its year-end June 30, 2023. The net position amounts provided are as of the beginning of the fiscal year, July 1, 2022. Only those amounts that must be reported in the fiduciary fund financial statements are included in the trial balances.
Required:
8-25 a. Prepare the statement of changes in fiduciary net position for the year ended June 30, 2023.
8-25 b. Prepare the statement of fiduciary net position as of June 30, 2023.

8-25 a

Solution
8-25 a Check here for Feedback
CITY OF MARIVILLE
Statement of Revenues, Expenses and Changes in Fiduciary Net Position
For the Year Ended
Private- Purpose Trust Funds
Pension Trust Funds Total Trust Funds Custodial Funds
ADDITIONS
Contributions:
Employer 1 1 2 1
Members 1 1 2 1
Donations 1 1 2 1
Tax collections 1 1 2 1
Investment Earnings: 1 1 2 1
Interest & dividends 1 1 2 1
Total additions 6 $6 $12 $6
DEDUCTIONS
Benefits paid 1 1 2 1
Payments to participants 1 1 2 1
Payments of Property Taxes to Other Governments 1 1 2 1
Administrative expenses & other 1 1 2 1
Total deductions $4 $4 $8 $4
Net increase (decrease) in fiduciary net position
1 1 1 1
Net position beginning 41,123,848 164,082 41,287,930 240,932
Net position ending $41,123,849 $164,083 $41,287,931 $240,933

8-25 b

Check here for Feedback
Solution
8-25 b
Statement of Fiduciary Net Position
As of Year End
Private- Purpose Trust Funds
Pension Trust Funds Total Trust Funds Custodial Funds
ASSETS
Cash & cash equivalents $1 $1 $2 $1
Receivables 1 1 2 1
Investments 1 1 2 1
Total assets $3 $3 $6 $3
LIABILITIES
Accounts payable 1 1 2 1
Due to other funds 1 1 2 1
Total liabilities 2 $2 $4 $2
NET POSITION
Restricted for:
Pensions 1 1 2 1
Other governments 1 1 2 1
Other purposes 1 1 2 1
Total net position $3 $3 $6 $3

8-25a Feedback

Solution
8-25 a
CITY OF MARIVILLE
Statement of Revenues, Expenses and Changes in Fiduciary Net Position
For the Year Ended
Private- Purpose Trust Funds
Pension Trust Funds Total Trust Funds Custodial Funds
ADDITIONS
Contributions:
Employer Try Again Try Again Try Again Try Again
Members Try Again Try Again Try Again Try Again
Donations Try Again Try Again Try Again Try Again
Tax collections Try Again Try Again Try Again Try Again
Investment Earnings: Try Again Try Again Try Again Try Again
Interest & dividends Try Again Try Again Try Again Try Again
Total additions $0 $0 $0 $0
DEDUCTIONS
Benefits paid Try Again Try Again Try Again Try Again
Payments to participants Try Again Try Again Try Again Try Again
Payments of Property Taxes to Other Governments Try Again Try Again Try Again Try Again
Administrative expenses & other Try Again Try Again Try Again Try Again
Total deductions $0 $0 $0 $0
Net increase (decrease) in fiduciary net position
Try Again Try Again Try Again Try Again
Net position beginning 41,123,848 164,082 41,287,930 240,932
Net position ending Try Again Try Again Try Again Try Again

8-25 b Feedback

Solution
8-25 b
Statement of Fiduciary Net Position
As of Year End
Private- Purpose Trust Funds
Pension Trust Funds Total Trust Funds Custodial Funds
ASSETS
Cash & cash equivalents Try Again Try Again Try Again Try Again
Receivables Try Again Try Again Try Again Try Again
Investments Try Again Try Again Try Again Try Again
Total assets Try Again Try Again Try Again Try Again
LIABILITIES
Accounts payable Try Again Try Again Try Again Try Again
Due to other funds Try Again Try Again Try Again Try Again
Total liabilities Try Again Try Again Try Again Try Again
NET POSITION
Restricted for:
Pensions Try Again Try Again Try Again Try Again
Other governments Try Again Try Again Try Again Try Again
Other purposes Try Again Try Again Try Again Try Again
Total net position Try Again Try Again Try Again Try Again

Is this the question you were looking for? Place your Order Here