Question #1: Completion of Annual statement 13 (points for correct categorization of Revenue, Expenses and calculations) Complete an Annual statement of Revenue and Expenses with the following information: Office Supplies $1500.00 Rent $12,300.00 Payroll $153,984.00 Insurance $3,800.00 Donations $13,500.00 Internet $13,000.00 Phones $900.00 Bank charges S673.00 Audit $12,000.00 Government funding $180,000.00 Book sales S550.00 Sponsorships $3,000.00 Travel $1.483.00 Membership fees $550.00 Professional development S3500.00 Workshop fees $9,500.00 Fundraising $16,450.00 Photocopier lease $1800.00 Postage $445.00 Computers/technology $5,380.00 Promotions $462.00 Board/Committee Expenses $135.00 Miscellaneous Income $50.00 Resources $678.00 Contractors $8900.00 Revenue Total Income Expenses Total Income Expenses Total Expenses Balance Net Profiter (L.) Question #2 How much of your total expenses are paid to wages in percentage terms? 12 (points for correct calculation, and correct response) Total Income/Wages Question #3 Please match the correct term with the matching definition using the number 15 Equity Meny you spent. The cost of operations related to you income, eg office supplies, re. 1 2. Ince Your call worth 3. Liability Things you out. The obligations and debts you owe. 8. mency owed on a 4. Expenses Thing you can. Property or money you already have property, vehicles 5. A _Money you receiveeg, funding, fundraising, donations, monies for services Question #4 What is the difference between Managerial Accounting and Financial Accounting? /2 Question #5 List two reasons why financial statements are important 12 1