Question

The following information was excerpted from the records of the East End Golf and Tennis Club, an NFPO. All account balances are as of the fiscal year ended June 30, 2013, except for the net asset balances at the beginning of the year. Prepare a statement of activities for the East End Golf and Tennis Club.
Revenues— dues.......................... 600,000
Revenues— golf lessons...................... 80,000
Revenues— tennis lessons..................... 55,000
Expenses— golf and tennis pros................... 105,000
Other expenses associated with golf courses and tennis courts ........ 475,000
Administration expenses...................... 65,000
Assessments against members, restricted for capital improvements...... 200,000
Net assets released from restriction due to satisfaction of program restrictions.. 70,000
Net unrealized and realized gains on temporarily restricted investments ..... 20,000
Net assets at beginning of year— unrestricted.............. 60,000
Net assets at beginning of year— temporarily restricted........... 80,000



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  • CreatedDecember 30, 2014
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