Question

A fund earned investment income of 8,000 during 2004. The beginning

and ending balance of the fund were 95,000 and 120,000
respectively. A deposit was made at time K during the year. No
other deposits

Answer 1

The deposit made at time K during the year is $7,000.

Step-by-step explanation:

To calculate the investment income, you need to subtract the beginning balance from the ending balance and then subtract any deposits made during the year. In this case, the beginning balance is $95,000 and the ending balance is $120,000. The deposit made at time K is unknown. The investment income is given as $8,000. So we can set up an equation: $120,000 - $95,000 - K = $8,000. Solving for K, we find that the deposit made at time K is $7,000.

Answer 2

The investment income for 2004 is $8,000. The deposit made at time K during the year is $17,000.

Step-by-step explanation:

To calculate the investment income for 2004, we need to find the difference between the ending and beginning balances of the fund. The investment income is the amount of money the fund earned during the year. In this case, the beginning balance is $95,000, the ending balance is $120,000, and the investment income is $8,000.

To find the deposit made at time K during the year, we can subtract the investment income from the difference between the ending and beginning balances. So the deposit made at time K is $120,000 - $95,000 - $8,000 = $17,000.