Question

The following information for 20X7 was derived from the records of a nongovernment ONPO or VHWO:
Unrestricted contributions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,000,000
Unrestricted contributions (intended to finance next year) . . . . . . . . . 700,000
Contributions restricted for specific programs . . . . . . . . . . . . . . . . . . . 2,300,000
Contributions restricted for permanent endowments . . . . . . . . . . . . . . 4,000,000
Contributions restricted for term endowments . . . . . . . . . . . . . . . . . . . 600,000
Contributions restricted for plant assets . . . . . . . . . . . . . . . . . . . . . . . 11,000,000
Special event revenues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000,000
Unrestricted investment income of permanent endowments . . . . . . . 3,000,000
Investment income restricted for plant purposes . . . . . . . . . . . . . . . . . 2,700,000
Restricted gain on sale of investments of permanent endowments . . . . 950,000
Membership dues (not contributions) . . . . . . . . . . . . . . . . . . . . . . . . . 1,800,000
Expenses for research programs for which donor-restricted
resources are available . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,500,000
Expenses for other research programs . . . . . . . . . . . . . . . . . . . . . . . . 1,750,000
Purchase of capital assets from donor-restricted resources . . . . . . . . 7,000,000
Expiration of term endowments (unrestricted) . . . . . . . . . . . . . . . . . 1,200,000
Expenses for community service programs . . . . . . . . . . . . . . . . . . . . 3,000,000
Special events—Direct costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,100,000
Expenses for fund-raising . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000,000
Expenses for administrative functions . . . . . . . . . . . . . . . . . . . . . . . . 700,000
Beginning unrestricted net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,000,000
Beginning temporarily restricted net assets . . . . . . . . . . . . . . . . . . . 9,400,000
Beginning permanently restricted net assets . . . . . . . . . . . . . . . . . 22,000,000

Required
Prepare a Statement of Activities for this nongovernment not-for-profit organization for the year ended December 31, 20X7. Special events are part of the major or central ongoing activities of the entity.



$1.99
Sales1
Views96
Comments0
  • CreatedOctober 25, 2014
  • Files Included
Post your question
5000