Endowment Fund
Posted: Wed Apr 16, 2008 4:19 pm
I set up an Endowment Account. With income, expenses, etc. Funds went into the account. A certificate of deposit was purchased. Income was credited and CD debited. CD matured -- funds were debited to Income. The church decided to place the funds with a brokage firm. A check was written and income was credited.
Problem Account now shows no asset. What is the procedure to show the asset amount?
Problem Account now shows no asset. What is the procedure to show the asset amount?