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P12-5 (Pension Trust Fund Entries and Statements) The following is the December 31, 20X8, trial balance of the McCarthy County Public Employees Retirement Fund, a multiple-employer pen- sion plan in which the cities of Mooresville and Sutherland's Gap participate, as well as the county. Debit Credit ....$ 76,000 12,000 alim14,200 ....d 1,456,000 near Cash. Due from Sutherland's Gap. Interest Receivable Investments Due to Resigned Employees Due to Estates of Deceased Employees. Annuities Payable Net Position - Restricted for Pension Benefits $ 14,500 3,000 1,700 1,539,000 $1,558,200 $1,558,200 McCarthy County The employees' contributions are returned to them or to their estates upon resignation or death, respectively; vesting of employers' matching contributions occurs only at retirement. During 20X9 the following transactions occurred: doba note 1. Employee contributions (which are matched by the employer) for the year were: 52 indos ao be mane Employees of Contributions $60,000 RAAD Mooresville 35,000 od Sutherland's Gap 25,000 boost Searn to be 2. All amounts due to the pension plan were collected except $20,000 each still due from the cities. 3. Interest accrued in the amount of $169,000. 4. Interest receivable of $168,400 was collected. 5. Five employees resigned; their contributions were determined to have been $24,000. Two employees died prior to retirement; their contributions were determined to have been $36,000. 6. Checks mailed to resigned employees during the year amounted to $34,500. Checks mailed to the estates of deceased employees totaled $33,000. 7. Annuities were accrued in the amount of $63,000; annuities in the amount of $62,700 were paid. 8. Additional investments were made as follows: motor Bonds (at par) $160,000 bavio Accrued interest. 30,000 Discounts .. (8,000) on the $182,000 9. The fair value of investments at year end exceeded the carrying value by $3,000. a. Prepare a worksheet (or journal entries and T-accounts) showing transactions, adjustments, and closing entries for the Retirement Fund for 20X9. b. Prepare a Statement of Plan Net Position as of December 31, 20X9, and a Statement of Changes in Plan Net Position for the year ended December 31, 20X9. hould C M of has rea Och d

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