P8-2 (Preparation of a statement of fiduciary net position for a Pension Trust Fund)
The following information is available for Russellville at June 30, 2012. Prepare a statement of fiduciary net position for RussellvilleAc€?cs Pension Trust Fund as of June 30, 2012, by reporting the assets and liabilities from the information provided.
AdditionsAc€??interest $ 250,000; Member contributions 340,000; Loss on sale of investments 30,000; Cash 180,000; Accrued expenses 56,000; Interest receivable 20,000; Accounts payable 33,000; Due to other funds 54,000; Investments 10,000,000; DeductionsAc€??operating costs 42,000; Retirement annuities paid 987,000