Question

The December 31, 2012, statement of financial position for the Blood Donors of America
Foundation is presented below.
Statement of Financial Position
December 31, 2012
Assets
Cash.................... $ 470,000
Accounts Receivable............... 160,000
Allowance for Doubtful Accounts.......... (30,000)
Pledges Receivable .............. 930,000
Allowance for Doubtful Pledges.......... (130,000)
Inventories.................. 400,000
Investments ................. 19,300,000
Land .................... 1,300,000
Buildings and Improvements........... 46,500,000
Equipment.................. 2,700,000
Accumulated Depreciation ........... (13,500,000)
Other Assets.................. 200,000
Total Assets.................. $58,300,000
Liabilities
Accounts Payable........... $ 700,000
Accrued Expenses........... 130,000
Deferred Revenue—Unrestricted....... 100,000
Deferred Capital Addition........ 1,600,000
Long-term Debt........... 7,350,000
Total Liabilities........... 9,880,000
Fund Balances
Plant.................. 29,000,000
Endowment................ 3,850,000
Restricted................ 7,300,000
Unrestricted................ 8,270,000
Total Fund Balances........... 48,420,000
Total Liabilities and Fund Balances...... $58,300,000
Additional information concerning the statement of financial position is as follows:
1. Except for $70,000 of cash, the Endowment Fund is made up of investments only. There are no liabilities.
2. The Plant Fund has no current liabilities and includes some investments and $15,000 in cash.
3. In addition to investments, the Current Restricted Fund consists of the pledges receivable, $35,000 of accounts payable, and cash of $155,000.

Required:
Prepare a corrected statement of financial position for the Blood Donors of America Foundation at December 31, 2012, using the following columnarformat:


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  • CreatedMarch 16, 2015
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