Question

We Care, a VHWO, conducts two programs: Adult Services and Education. It has the typical supporting services of management and fund raising. The condensed trial balances after allocable expenses have been assigned are presented as follows:
Required
1. Prepare a statement of activities in the format shown in Illustration 18-2.
2. Prepare closing entries for each net asset classification.


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  • CreatedApril 13, 2015
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