And a Financial Statement using the information below: Organize the activities in the Financial Statement spreadsheet into a Financial Statement • Calculate Change in Net Assets You'll want to calculate total expenses and total revenues FY 2020 Statement of Activities Nonprofit XYZ $ 132,475.00 Individual Donations $345,758.00 U.S. Government Contracts $ 6,216,000.00 Foundation Grants $ 5,001,397.00 Direct Program Services Costs 24 2,854.00 Investment Income $ 713,847.0O Salaries & Compensation $ 6,751,237.00 Net Assets at Beginning of Year $ 450,000.00 Marketing & Fundraising $ 160,000.00 Administrative Costs

And a Financial Statement using the information below: Organize the activities in the Financial Statement spreadsheet into a Financial Statement • Calculate Change in Net Assets You'll want to calculate total expenses and total revenues FY 2020 Statement of Activities Nonprofit XYZ $ 132,475.00 Individual Donations $345,758.00 U.S. Government Contracts $ 6,216,000.00 Foundation Grants $ 5,001,397.00 Direct Program Services Costs 24 2,854.00 Investment Income $ 713,847.0O Salaries & Compensation $ 6,751,237.00 Net Assets at Beginning of Year $ 450,000.00 Marketing & Fundraising $ 160,000.00 Administrative Costs

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Required A Required B Complete this question by entering your answers in the tabs below. Required C VILLAGE OF SEASIDE PINES ENTERPRISE FUND Statement of Net Position December 31, 2024 Net Position: Net Investment in Capital Assets Unrestricted Total Net Position Debits Required: a.…
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! Required information [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Debits $ Credits 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals 40,000 18,000 4,000 119,000 625,000 $1,479,000 $1,479,000 Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of…
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2 The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 108,000 Accounts receivable $ 27,400 Accrued interest payable 30,600 Accumulated depreciation 49,000 Administrative and selling expenses 51,000 Allowance for uncollectible accounts 13,000 Capital assets 714,000 Cash 96,800 Charges for sales and services 561,000 Cost of sales and services 500,000 Depreciation expense 49,000 Due from General Fund 17,300 Interest expense 40,500 Interest revenue 5,300 Transfer in from General Fund 117,600 Bank note payable 630,400 Supplies inventory 18,900 Totals $ 1,514,900 $ 1,514,900 Required: Prepare the closing entries for December 31. Prepare the Statement of Revenues, Expenses, and Changes in Fund…
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