Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. 1 Assignment Question(s): (Marks 5) Q1. Heat Village maintains a Pension Trust Fund for its employees. At the start of the year, the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The Fund has the following transactions. Prepare entries to record them in the Fund’s accounts. (2 Marks) a. Bills the General Fund $200,000 for the required annual contribution. The pension plan does not require contributions from the employees b. Receives payment of $200,000 from the General Fund c. Receives interest and dividend income of $150,000 in cash on its investment portfolio d. Receives $215,000 from selling investments carried on the books at $200,000 e. Makes new investments totaling $275,000 f. Pays annuity benefits of $325,000 to retirees or their spouses g. Pays administrative expenses of $100,000 in cash h. The investments held by the Fund have a fair value of $4,100,000 at year-end. Answer: Q2. Following information are related with Internal Service Fund of City of Jeddah. You are required to prepare a Statement of Cash Flows for the year ended December 31st, 2018. Operating income Increase in Inventories Interest received Acquisition of Capital Assets Payment to Suppliers Depreciation expense Payments for Rent Increase in Accounts Payable Receipts from Customers Payment to Employees Cash balance at the beginning of the year Answer: 2 Amount ($) 68,400 27,200 800 2,800 32,000 29,600 21,200 54,400 378,400 200,000 584,800 (1.5 Marks) Q3. The following transactions are related with a Township Debt Service Fund. Prepare journal entries to record the transactions in the Debt Service Fund. (1.5 Marks) a. The Township levies a special property tax amounting to $1,750,000 to pay debt service on its long-term general obligation debt. The tax must be accounted for in the Debt Service Fund. b. All the property taxes levied for debt service purposes are collected. c. The Township invests $525,000 in a six-month certificate of deposit. d. Debt service (interest of $350,000 and principal of $700,000) becomes due and payable. e. The debt service liabilities are paid. f. The certificate of deposit in c. matures and the Township receives a total of $535,500, which includes $10,500 of interest. Answer: 3 Purchase answer to see full attachment Tags: journal entries financial accounting Accounting Information Investment Analysis employer contributions User generated content is uploaded by users for the purposes of learning and should be used following Studypool’s honor code & terms of service.

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Q1. Heat Village maintains a Pension Trust Fund for its employees. At the start of the year, the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The Fund has the following transactions. Prepare entries to record them in the Fund’s accounts. (2 Marks)undefineda.Bills the General Fund $200,000 for the required annual contribution. The pension plan does not require contributions from the employeesundefinedb.Receives payment of $200,000 from the General Fundundefinedc.Receives interest and dividend income of $150,000 in cash on its investment portfolioundefinedd.Receives $215,000 from selling investments carried on the books at $200,000undefinede.Makes new investments totaling $275,000undefinedf.Pays annuity benefits of $325,000 to retirees or their spousesundefinedg.Pays administrative expenses of $100,000 in cashundefinedh.The investments held by the Fund have a fair value of $4,100,000 at year-end.undefinedAnswer:undefinedundefinedQ2. Following information are related with Internal Service Fund of City of Jeddah. You are required to prepare a Statement of Cash Flows for the year ended December 31st, 2018. (1.5 Marks) undefined Amount ($) Operating income 68,400 Increase in Inventories 27,200 Interest received 800 Acquisition of Capital Assets 2,800 Payment to Suppliers 32,000 Depreciation expense 29,600 Payments for Rent 21,200 Increase in Accounts Payable 54,400 Receipts fromCustomers 378,400 Payment to Employees 200,000 Cash balance at the beginning of the year 584,800 undefinedAnswer:undefinedQ3. The following transactions are related with a Township Debt Service Fund. Prepare journal entries to record the transactions in the Debt Service Fund.(1.5 Marks)undefineda.The Township levies a special property tax amounting to $1,750,000 to pay debt service on its long-term general obligation debt. The tax must be accounted for in the Debt Service Fund.undefinedb.All the property taxes levied for debt service purposes are collected.undefinedc.The Township invests $525,000 in a six-month certificate of deposit.undefinedd.Debt service (interest of $350,000 and principal of $700,000) becomes due and payable.undefinede.The debt service liabilities are paid.undefinedf.The certificate of deposit in c. matures and the Township receives a total of $535,500, which includes $10,500 of interest.undefinedAnswer:

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College of Administrative and Financial Sciences
Assignment 2
Deadline: 20/03/2021@ 23:59
Course Name: Government and NonProfit Accounting
Student’s Name:
Course Code: ACCT 321
Student’s ID Number:
Semester: 2
CRN:
Academic Year: 1441/1442 H
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out of 5
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented, marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students or
other resources without proper referencing will result in ZERO marks. No exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced) font.
No pictures containing text will be accepted and will be considered plagiarism).
• Submissions without this cover page will NOT be accepted.
1
Assignment Question(s):
(Marks 5)
Q1. Heat Village maintains a Pension Trust Fund for its employees. At the start of the year,
the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The
Fund has the following transactions. Prepare entries to record them in the Fund’s accounts.
(2 Marks)
a. Bills the General Fund $200,000 for the required annual contribution. The pension
plan does not require contributions from the employees
b. Receives payment of $200,000 from the General Fund
c. Receives interest and dividend income of $150,000 in cash on its investment
portfolio
d. Receives $215,000 from selling investments carried on the books at $200,000
e. Makes new investments totaling $275,000
f.
Pays annuity benefits of $325,000 to retirees or their spouses
g. Pays administrative expenses of $100,000 in cash
h. The investments held by the Fund have a fair value of $4,100,000 at year-end.
Answer:
Q2. Following information are related with Internal Service Fund of City of Jeddah. You are
required to prepare a Statement of Cash Flows for the year ended December 31st, 2018.
Operating income
Increase in Inventories
Interest received
Acquisition of Capital Assets
Payment to Suppliers
Depreciation expense
Payments for Rent
Increase in Accounts Payable
Receipts from Customers
Payment to Employees
Cash balance at the beginning of the year
Answer:
2
Amount ($)
68,400
27,200
800
2,800
32,000
29,600
21,200
54,400
378,400
200,000
584,800
(1.5 Marks)
Q3. The following transactions are related with a Township Debt Service Fund. Prepare journal
entries to record the transactions in the Debt Service Fund.
(1.5 Marks)
a. The Township levies a special property tax amounting to $1,750,000 to pay debt
service on its long-term general obligation debt. The tax must be accounted for in
the Debt Service Fund.
b. All the property taxes levied for debt service purposes are collected.
c. The Township invests $525,000 in a six-month certificate of deposit.
d. Debt service (interest of $350,000 and principal of $700,000) becomes due and
payable.
e. The debt service liabilities are paid.
f.
The certificate of deposit in c. matures and the Township receives a total of $535,500,
which includes $10,500 of interest.
Answer:
3

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https://www.onlinefreelancersnetwork.com/wp-content/uploads/2020/08/logoOFN.png 0 0 online_admin https://www.onlinefreelancersnetwork.com/wp-content/uploads/2020/08/logoOFN.png online_admin2023-07-12 15:49:052023-07-12 15:49:05Description Q1. Heat Village maintains a Pension Trust Fund for its employees. At the start of the year, the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The Fund has the following transactions. Prepare entries to record them in the Fund's accounts. (2 Marks)undefineda.Bills the General Fund $200,000 for the required annual contribution. The pension plan does not require contributions from the employeesundefinedb.Receives payment of $200,000 from the General Fundundefinedc.Receives interest and dividend income of $150,000 in cash on its investment portfolioundefinedd.Receives $215,000 from selling investments carried on the books at $200,000undefinede.Makes new investments totaling $275,000undefinedf.Pays annuity benefits of $325,000 to retirees or their spousesundefinedg.Pays administrative expenses of $100,000 in cashundefinedh.The investments held by the Fund have a fair value of $4,100,000 at year-end.undefinedAnswer:undefinedundefinedQ2. Following information are related with Internal Service Fund of City of Jeddah. You are required to prepare a Statement of Cash Flows for the year ended December 31st, 2018. (1.5 Marks) undefined Amount ($) Operating income 68,400 Increase in Inventories 27,200 Interest received 800 Acquisition of Capital Assets 2,800 Payment to Suppliers 32,000 Depreciation expense 29,600 Payments for Rent 21,200 Increase in Accounts Payable 54,400 Receipts fromCustomers 378,400 Payment to Employees 200,000 Cash balance at the beginning of the year 584,800 undefinedAnswer:undefinedQ3. The following transactions are related with a Township Debt Service Fund. Prepare journal entries to record the transactions in the Debt Service Fund.(1.5 Marks)undefineda.The Township levies a special property tax amounting to $1,750,000 to pay debt service on its long-term general obligation debt. The tax must be accounted for in the Debt Service Fund.undefinedb.All the property taxes levied for debt service purposes are collected.undefinedc.The Township invests $525,000 in a six-month certificate of deposit.undefinedd.Debt service (interest of $350,000 and principal of $700,000) becomes due and payable.undefinede.The debt service liabilities are paid.undefinedf.The certificate of deposit in c. matures and the Township receives a total of $535,500, which includes $10,500 of interest.undefinedAnswer: 1 attachmentsSlide 1 of 1attachment_1attachment_1.slider-slide > img { width: 100%; display: block; } .slider-slide > img:focus { margin: auto; } Unformatted Attachment Preview College of Administrative and Financial Sciences Assignment 2 Deadline: 20/03/2021@ 23:59 Course Name: Government and NonProfit Accounting Student’s Name: Course Code: ACCT 321 Student’s ID Number: Semester: 2 CRN: Academic Year: 1441/1442 H For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained/Out of 5 Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. 1 Assignment Question(s): (Marks 5) Q1. Heat Village maintains a Pension Trust Fund for its employees. At the start of the year, the Fund holds cash of $150,000 and investments that have a fair value of $4,000,000. The Fund has the following transactions. Prepare entries to record them in the Fund's accounts. (2 Marks) a. Bills the General Fund $200,000 for the required annual contribution. The pension plan does not require contributions from the employees b. Receives payment of $200,000 from the General Fund c. Receives interest and dividend income of $150,000 in cash on its investment portfolio d. Receives $215,000 from selling investments carried on the books at $200,000 e. Makes new investments totaling $275,000 f. Pays annuity benefits of $325,000 to retirees or their spouses g. Pays administrative expenses of $100,000 in cash h. The investments held by the Fund have a fair value of $4,100,000 at year-end. Answer: Q2. Following information are related with Internal Service Fund of City of Jeddah. You are required to prepare a Statement of Cash Flows for the year ended December 31st, 2018. Operating income Increase in Inventories Interest received Acquisition of Capital Assets Payment to Suppliers Depreciation expense Payments for Rent Increase in Accounts Payable Receipts from Customers Payment to Employees Cash balance at the beginning of the year Answer: 2 Amount ($) 68,400 27,200 800 2,800 32,000 29,600 21,200 54,400 378,400 200,000 584,800 (1.5 Marks) Q3. The following transactions are related with a Township Debt Service Fund. Prepare journal entries to record the transactions in the Debt Service Fund. (1.5 Marks) a. The Township levies a special property tax amounting to $1,750,000 to pay debt service on its long-term general obligation debt. The tax must be accounted for in the Debt Service Fund. b. All the property taxes levied for debt service purposes are collected. c. The Township invests $525,000 in a six-month certificate of deposit. d. Debt service (interest of $350,000 and principal of $700,000) becomes due and payable. e. The debt service liabilities are paid. f. The certificate of deposit in c. matures and the Township receives a total of $535,500, which includes $10,500 of interest. Answer: 3 Purchase answer to see full attachment Tags: journal entries financial accounting Accounting Information Investment Analysis employer contributions User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

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