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C12-2(Fiduciary Fund Financial Statement PreparationCity of Wilmington, Delaware) The City of Wilmington,...

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Accounting

C12-2(Fiduciary Fund Financial Statement PreparationCity of Wilmington, Delaware) The City of Wilmington, Delaware, has an Other Postemployment Benefit Trust Fund and a Tax Collection Agency Fund. The Preclosing Trial Balance for each of these funds as of June 30,20X6, is as follows:
City of Wilmington, DelawareOther Postemployment Benefit Trust FundPreclosing Trial BalanceJune 30,20X6Dr.Cr.Cash and cash equivalents$ 405,476Interest receivable50,807Investments2,767,043Employer contributions$ 505,189Employee contributions167,721Interest income37,787Increase in fair market value of investments33,179Benefits paid362,325Administrative expenses18,957Net positionrestricted for benefits2,860,732Totals$3,604,608$3,604,608
City of Wilmington, DelawareTax Collection Agency FundPreclosing Trial BalanceJune 30,20X6Dr.Cr.Cash and cash equivalents$ 282,630Due from other governments211,613Due to other governments$ 294,967Due to other funds199,276Totals$ 494,243$ 494,243
Required
Prepare a Statement of Fiduciary Net Position for the city of Wilmington as of June 30,20X6, and a Statement of Changes in Fiduciary Net Position for the year ended June 30,20X6.

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