Question: please help me answer this question will rate your answer right away Review 2022 Financial Statements and notes of Royal Botanical Garden (RBG)https://www.rbg.ca/app/uploads/2022-RBG-Signed-Financial-Statements.pdf?x20574 Recently few

please help me answer this question will rate your answer right away

Review 2022 Financial Statements and notes of Royal Botanical Garden (RBG)https://www.rbg.ca/app/uploads/2022-RBG-Signed-Financial-Statements.pdf?x20574

Recently few new Board Members joined RBG's Board of Directors; although they are experienced business professionals and passionate about RBG's mission, they have limited knowledge of not-for-profit accounting and reporting. You were asked to prepare a Memo to the RBG Board of Directors outlining the following issues:

  1. Briefly outline how NFPOs differ from profit-oriented organizations
  2. Distinguish between unrestricted and restricted contributions.
  3. Explain the revenue recognition method for RBG
  4. Board members had noticed a significant increase in Deficiency for 2022 over 2021 (page 5, Statements of Operations). Could you please explain it?
  5. RBG had received a donation of a collection of rear books explaining gardening techniques in the 19th century and would like to know how to record it. RBG does not have the funds to complete the appraisal.
  6. Provide a brief overview of trends for revenue and expenses for RBG for the 2021 and 2022 reporting periods. Explain the impact on the financial position of RBG
  7. Since the completion of the 2022 Financial Statements, the following transactions have been completed. Please provide Journal entries for each of the events
    1. 50% of accounts payable outstanding were paid
    2. 10% of Science and Education deferred revenue was recognized.
    3. The fundraising campaign was held to collect funds for current-year operations. Cash of $100,000 was collected, and an additional $5,000 was pledged and is expected to be received in the early part of next year. Total fundraising costs were $30,000, of which $10,000 was paid in cash, $10,000 is owed to suppliers and $10,000 has been accrued.
    4. Donation of $150,000 was received to be held in endowment, where the income earned will support rose garden maintenance

use this website to answer the above questions: https://www.rbg.ca/app/uploads/2022-RBG-Signed-Financial-Statements.pdf?x20574

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