Answer Happy

Presented below is the preclosing trial balance for the Scholarship Fund, a private-purpose trust fund of the Algonquin School District Trial Balance --December 31, 2020 Debito Credits Accounts Payable $ 3,500 Accrued Interest Receivable $ 1,530 Administrative Expense 8,080 Cash 69,890 Increase in Fair Value of Investments 6,000 Distribution-Scholarships 82.000 Interest Income 97,000 Investment in Bonda 1,606,000 Net Position Restricted for Scholarships 1,661,000 $1,767,500 $1,767,500 Required: Prepare the year-end closing entries and a statement of Changes in Fiduciary Net Position for the year ended December 31, 2020 Complete this question by entering your answers in the tabs below. General Journal Statement of Changes Prepare the year-end closing entries (If no entry is required for a transaction/event, select "No Journal Entry Required in the hrst account field.)

General Journal Statement or Changes Prepare the year-end closing entries. (If no entry is required for a transaction/even account field.) View transaction list :X X 1 Record the year-end closing entry for the fund. it Note : = journal entry has been entered

General Journal Statement of Changes Prepare the Statement of Changes in Fiduciary Net Position for the year ended December 31 ALGONQUIN SCHOOL DISTRICT Statement of Changes in Fiduciary Net Position Scholarship Trust Fund For the Year Ended December 31, 2020 Additions: Investment Earnings: Total Additions Deductions: Total Deductions Change in Fiduciary Net Position < General Journal Statement of Changes