Question: Following is the adjusted trial balance of the Community Association

Following is the adjusted trial balance of the Community Association for Handicapped Children, a nongovernment voluntary health and welfare organization, at June 30, 20X6:


*Other information—not reflected in the trial balance:
1. Investments of permanent endowment, $500,000.
2. Equipment, $150,000.
3. Accumulated depreciation, $50,000.
4. Note payable for equipment, $12,000.
5. Current-year depreciation, management and general, $6,000.

Required
(a) Prepare the Statement of Activities for the year ended June 30, 20X6.
(b) Prepare the Balance Sheet as of June 30, 20X6. (AICPA,adapted)


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  • CreatedOctober 25, 2014
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