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ACC/380 ACC/380 WEEK 3 ASSIGNMENT -PROBLEM 7-13 CITY OF SWEETWATER ACCOUNTING FOR NOT FOR PROFIT -ANSWER KEY

ACC/380 ACC/380 WEEK 3 ASSIGNMENT -PROBLEM 7-13 CITY OF SWEETWATER ACCOUNTING FOR NOT FOR PROFIT  -ANSWER KEY
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ACC/380 WEEK 3 ASSIGNMENT -PROBLEM 7-13 CITY OF SWEETWATER ACCOUNTING FOR NOT FOR PROFIT 

Assignments

Net Assets and Employees’ Retirement Fund. Complete the following activities and submit your answers to your instructor in a Word document formatted to proper APA specifications. Include any relevant supporting computations and explanations.

Review the financial information pertaining to the City of Sweetwater in problem 7-13 on pages 215-217 of your text. Review the transactions that occurred during the year ended June 30, 2012 and complete the following:

1. Record the transactions on the books of the Employees’ Retirement Fund.
2. Prepare a Statement of Changes in Net Assets for the Employees’ Retirement Fund for the Year Ended June 30, 2012.
3. Prepare a Statement of Net Assets for the Employees’ Retirement Fund as of June 30, 2012.

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