Respuesta :
An additions account should be credited for the proceeds on the sale of an investment that exceeds its book value
What are private purpose trust funds and how does it work?
Reporting trust agreements, other than pension and investment trusts, where principle and income benefit private companies, individuals, or other governments is done through private-purpose trust funds. The funds held under these agreements cannot be used to fund government initiatives.
Examples include financial gifts or other assets given to school districts for philanthropic, educational, or other purposes.
How are these money used?
Reporting trust agreements, other than pension and investment trusts, where principle and income benefit private companies, individuals, or other governments is done through private-purpose trust funds. The funds held under these agreements cannot be used to fund government initiatives.
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