Use the ending balances from Problem 9-26 to prepare a balance sheet for CASH for the first

fiscal year.

Template to fill out:

Question 9-26:

Because CASH is a new organization the opening balances for all accounts were $0. Record the

transactions from Problem 9-24 in a worksheet similar to Exhibit 9-4.

9-24. Which of the following results in a financial transaction for an organization? An organization

1. verbally agrees to a lease contract for office space with the landlord.

2. signs a contract to lease office space for 1 year.

3. makes a deposit on the office space.

Problem 9-27 TEMPLATE (Statement of Financial Position) CASH Statement of Financial Position as of the End of the First Month 2020 Assets Current assets Cash Supplies Total current assets Long-term assets Office equipment Office sign Total long-term assets Total Assets $0 $0 SO Liabilities & Net Assets Liabilities Short-term liabilities Accounts payable Total short-term liabilities Long-term liabilities Loan payable Total long-term liabilities Total liabilities $0 SO $0 Net assets Without donor restrictions With donor restrictions Total net assets $0 Liabilities & Net Assets SO ASSETS LIABILITIES AND NET ASSETS Liabilities Net Assets Without With Accounts Wages Mortgage Domo Doner Payable Payable Payable Restrictions Restrictions 57.000 113.000 Accounts Prepaid Plant Cash Receivable Inventory Insurance Equipment Beggare 12.000 $5.000 SO Transaction 100 100 2,000 Sanctions 3.000 12.000 112.000 Ending Bone S. 000 3.000 SOOD