180. Which of the following is a required financialstatement for an investment trust fund?a. Statement of revenues, expenditures, and changesin fiduciary net assets.b. Statement of activities.c. Statement of revenues, expenses, and changes infiduciary net assets.d. Statement of changes in fiduciary net assets.181. Assuming no outstanding encumbrances at yearend, closing entries for which of the following situa-tions would increase the unreserved fund balance atyear end?a. Actual revenues were less than estimated revenues.b. Estimated revenues exceed actual appropriations.c. Actual expenditures exceed appropriations.d. Appropriations exceed actual expenditures.

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180. Which of the following is a required financial statement for an investment trust fund? a. Statement of revenues, expenditures, and changes in fiduciary net assets. b. Statement of activities. c. Statement of revenues, expenses, and changes in fiduciary net assets. d. Statement of changes in fiduciary net assets.

180. Which of the following is a required financial statement for an investment trust fund? a. Statement of revenues, expenditures, and changes in fiduciary net assets. b. Statement of activities. c. Statement of revenues, expenses, and changes in fiduciary net assets. d. Statement of changes in fiduciary net assets.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 26E: Sinking Funds Entries The following information is available concerning Nunan Corporations sinking...

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