ACC 380 Week 3 Problem 7-13 City of Sweetwater

Exercise 7-13

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