I only need the answer to b part. I cannot find it anywhere.b. How would the Carol County Pension Trust Fund be reported on the county's financial stat Pension Trust Fund. ( LO8-5) Carol County administers a pension trust fund for some of its employees. The followingrepresents some of the transactions recorded by the Carol County Pension Trust Fund.1. Employee member cash contributions for the year totaled $80,437 and employer cash contributions totaled $68,370.2. Investments of $110,000 were made.3. Interest earnings of $39,960 were received and recorded.4. Investments totaling $225,000 were sold. Earnings and dividends on the investments sold totaled $2,812.5. Annuity benefits of $259,493 were paid to retirees.6. Administrative expenses of $4,617 were accrued.7. Accrued interest on investments totaled $12,290 at ycar-end.RequiredPagea. Make journal entries for cach of the foregoing transactions in the Carol County Pension Trust Fund.b. How would the Carol County Pension Trust Fund be reported on the county's financial statements?

Fund Base Accounting: Under this we have to make seperate books for each fund to report income,…

Answered: arol Count

Business

Accounting

arol Count

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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