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The City of Sweetwater maintains an Employees' Retirement Fund, a single$-$employer defined benefit plan that provides annulty and Answer is not complete.

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Required $C$

Record the transactions on the books of the Employees' Retirement Fund. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.$)$

$\backslash$table$[[$No$,$Transaction,General Journal,Debit,Credit$],[1,01,$Cash,$55,000,],[,$Accrued Interest Receivable,,$55,000],[2,02,$Cash,$800,000\backslash$chi $,],[,$Net Position: Restricted for OPEB Benefits,,$275,000],[3,03,$Cash,$730,000,],[,$Net Position: Restricted for OPEB Benefits,,$16,000$x$]]$ Answer is not complete.

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Required $A$

Required $B$

Prepare a Statement of Changes in Fiduciary Net Position for the Employees' Retirement Fund for the year ended June $30,2020.($Amounts to be deducted should be indicated with a minus sign.$)$ Answer is not complete.

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Required A

Required $B$

Required $C$

Prepare a Statement of Fiduciary Net Position for the Employees' Retirement Fund as of June $30,2020.$

$\backslash$table$[[$CITY OF SWEETWATER$],[$Employees$"$ Retirement Fund$],[$Statement of Fiduciary Net Position$],[$As of June $30,2020],[$Assets$,,],[$Cash$,$Q$,5,345,000\backslash$times $],[$Accounts Payable and Accrued Expenses,ox$,,10,000$x$],[$Investment in US Bonds,$\backslash$theta $,,4,533,000],[$Total Assets,,$5,4,888,000],[$Liabilities$],[$Accounts Payable and Accrued Expenses,$\backslash$theta $,,0$x$],[$Total Liabilities,,$5,0],[$Fiduciary Net Position$],[$Accounts Payable and Accrued Expenses,x$,,00],[$Restricted for Pension Benefits,$0,,5,883,000],[$Total Net Position,,$5,5,983,000]]$

disability benefits. The fund is financed by actuarlally determined contributions from the city's General Fund and by contributions from

employees. Administration of the retirement fund is handled by General Fund employees, and the retirement fund does not bear any

administrative expenses. The Statement of Fiduclary Net Position for the Employees' Retirement Fund as of July $1,2019,$ is shown here

During the year ended June $30,2020,$ the following transactions occurred:

The Interest recelvable on Investments was collected in cash.

Member contributions in the amount of $$275,000$ were recelved in cash. The city's General Fund also contributed $$800,000$ in

cash.

Annulty benefits of $$730,000$ and disability benefits of $$160,000$ were recorded as llabilitles.

Accounts payable and accrued expenses in the amount of $$950,000$ were pald in cash.

Interest Income of $$235,000$ and dividends in the amount of $$40,000$ were recelved in cash. In addition, bond interest Income of

$$45,000$ was accrued at year$-$end.

Refunds of $$79,000$ were made in cash to terminated, nonvested participants.

Common stocks, carrled at a falr value of $$500,000,$ were sold for $$475,000.$ That $$475,000,$ plus an additional $$305,000,$ was

Invested in stocks.

At year$-$end, It was determined that the falr value of stocks held by the pension plan had decreased by $$42,000$; the falr value of

bonds had increased by $$33,000.$

Nominal accounts for the year were closed.

Required:

a$.$ Record the transactions on the books of the Employees" Retirement Fund.

b$.$ Prepare a Statement of Changes in Fiduclary Net Position for the Employees' Retirement Fund for the year ended June $30,2020.$

c$.$ Prepare a Statement of Fiduclary Net Position for the Employees' Retirement Fund as of June $30,2020.$

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