Exercise $10-13($Algo$)$

The Ombudsman Foundation is a private nonprofit organization providing dispute resolution and conflict management training. The

Foundation had the following preclosing trial balance at December $31,2024,$ the end of its fiscal year:

Required:

a$.$ Prepare closing entries for the year$-$end, using separate entries for each net asset classification.

b$.$ Prepare a Statement of Activities for the year ended December $31,2024.$

Answer is not complete.

Complete this question by entering your answers in the tabs below.

Required $A,$ Required $B$

Prepare a Statement of Activities for the year ended December $31,2024.$

Note: Amounts to be deducted should be indicated by a minus sign.