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 $31,2024$

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

Required A

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

Note: If no entry is required for a transaction or event, select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

A

B

Record the year$-$end closing entry for net assets without donor restrictions.

Note: Enter debits before credits.

$\backslash$table$[[$Event$,$General Journal,Debit,Credit$],[1,$Contributed Services $-$ without Donor Restrictions,,$],[,,,],[,$No Journal Entry Required,,$],[$Contributed Services $-$ without Donor Restrictions,,,$],[$Contributions to Endowment $-$ with Donor Restrictions,,,$],[$Contributions to Programs $-$ with Donor Restrictions,,,$]]$