Following are the adjusted current funds trial balances of Community Association for Children With Disabilities, a voluntary
Question:
Required
a. Prepare a statement of activities for the year ended June 30, 20X4.
b. Prepare a statement of financial position as of June 30,20X4.
Transcribed Image Text:
COMMUNITY ASSOCIATION FOR CHILDREN WITH DISABILITIES Adjusted Current Funds Trial Balances June 30, 20X4 Unrestricted Restricted Debit Credit Debit Credit Cash Bequest Receivable Pledges Receivable Accrued Interest Receivable Investments (at market Accounts Payable & Accrued Expenses Deferred Revenue Allowance for Uncollectible Pledges Fund Balances, July 1, 20x3: S 9,000 5,000 S 40,000 12,000 1,000 100,000 50,000 2,000 3,000 S 1,000 Designated 12,000 26,000 Undesignated Restricted Transfers of Expired Endowment Fund Principal Contributions Membership Dues Program Service Fees Investment Income Deaf Children's Program Expenses Blind Children's Program Expenses Management and General Services Fund-Raising Services Provision for Uncollectible Pledges Total 23,000 20,000 20,000 15,000 300,000 25,000 30,000 10,000 120,000 150,000 45,000 8,000 2,000 4,000 1,000 $478,000 $478,000 $39,000 $39,000
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
a Community Association for Handicapped Children Statement of Activities Year Ended June 30 20X4 Tem...View the full answer
Answered By
Nyron Beeput
I am an active educator and professional tutor with substantial experience in Biology and General Science. The past two years I have been tutoring online intensively with high school and college students. I have been teaching for four years and this experience has helped me to hone skills such as patience, dedication and flexibility. I work at the pace of my students and ensure that they understand.
My method of using real life examples that my students can relate to has helped them grasp concepts more readily. I also help students learn how to apply their knowledge and they appreciate that very much.
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Advanced Financial Accounting
ISBN: 978-0078025624
10th edition
Authors: Theodore E. Christensen, David M. Cottrell, Richard E. Baker
Question Posted:
Students also viewed these Accounting questions
-
A voluntary health and welfare organization is required to present an additional financial statement that is not required of other private not-for-profit entities. Why is this important statement?
-
A voluntary health and welfare organization summarizes its expenses by function, as follows: Education........ $20,400 Fund-raising...... 11,400 Management and general.. 5,500 Public health.........
-
A voluntary health and welfare organization obtains contributions to perform various social ser-vices. The following information is extracted from its statement of activities. Compute the...
-
1.think about the evolution of the food industry, What was it in the past, and what will it be in the future? How will the 4 p's of marketing evolve within the industry you selected? 2.What is one...
-
Given the one-to-one function f (x) = x3 + 2, find the inverse and give the domain and the range of f and of f -1.
-
Williams Wholesalers Ltd currently asks its credit customers to pay by the end of the month after the month of delivery. In practice, customers take rather longer to pay on average 70 days. Sales...
-
Review the information on YouTube in this section of the chapter and conduct your own research. What evidence is there that beginning with the end in mind was part of YouTubes founders original plan?
-
In 2010, Amir ante Corporation had pretax financial income of $168,000 and taxable income of $120,000. The difference is due to the use of different depreciation methods for tax and accounting...
-
Why are financial markets essential for a healthy economy and economic growth? What are financial institutions? Describe each and give an example of who may use them: Investment banks Commercial...
-
On September 1st, Year 1, Dexter's Drive-In issues a bond with a $80,000 face value and a 12% stated interest rate. The bond will pay every four months for two years, ending on September 1st, Year 3....
-
The postclosing trial balance of the general fund of Serene Hospital, a not-for-profit entity, on December 31, 20X1, was as follows: During 20X2 the following transactions occurred: 1. Provided the...
-
Following are four independent transactions or events that relate to a local government and a voluntary health and welfare organization: 1. Made a disbursement of $25,000 from the general fund...
-
Identify each pair of relationships among the ? OH groups in glucose (red?blue, red?green, red?black, blue?green, blue?black, green?black) as cis or trans. CH2OH OH OH Glucose OH
-
The Total Amount Of Money In An Account With P Dollars Invested In It Is Given By The Formula A = P +Prt Wherer Is The Rate Expressed As A Decimal And T Is Time (In Years). If $1670 Is Invested At 3...
-
A family of 100 termites invades your house, and its population increases at a rate of 20% per week. How many tennites will be in your house after 1 year (52 weeks)?
-
After 10 years working in her organization, Cassandra is moving into her fourth role, this time as a manager in the accounting department. What issue is likely to show up during an account review if...
-
Probability in Your Life. Describe a recent instance from your own life when you used probabilil)' to make a decision. What type of probabilil)' did you use> How did it help you make the decision?
-
Tracy is preparing to apply a patch to her organization's enterprise resource planning system. She is concerned that the patch may introduce flaws that did not exist in prior versions, so she plans...
-
Use the given substitution to evaluate the integral. 0 dt 4t + 12 u = 4t + 12
-
The Taylor's series expansion for cosx about x = 0 is given by: where x is in radians. Write a user-defined function that determines cosx using Taylor's series expansion. For function name and...
-
a. What is the difference between operating income and net income? b. Why is net income called the bottom line? c. What is the difference between net income and cash flow? d. Is financial condition...
-
Fran Corporation acquired all outstanding $10 par value voting common stock of Brey Inc. on January 1, 20X9, in exchange for 25,000 shares of its $20 par value voting common stock. On December 31,...
-
Fran Corporation acquired all outstanding $10 par value voting common stock of Brey Inc. on January 1, 20X9, in exchange for 25,000 shares of its $20 par value voting common stock. On December 31,...
-
On December 31, 20X7, Randall Corporation recorded the following entry on its books to adjust from the fully adjusted equity method to the modified equity method for its investment in Sharp Company...
-
If a tax Bear has a vacation home, that is issues personally by the taxpayer for part of the year, and as a rental for part of the year, how are expenses reported on its tax return?
-
Christopher and Janai have a new grandson. How much money should they invest now so that he will have $78,000 for his college education in 18 years? The money is invested at 3.8% compounded...
-
Jonas' current annual salary is $70,000. Ten years from now how much will he need to earn to retain his present purchasing power if the rate of inflation over that period is 2% /year compounded...
Study smarter with the SolutionInn App