You are part of a nonprofit organization that provides career readiness services. The organization has three main
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You are part of a nonprofit organization that provides career readiness services. The organization has three main programs: “Writing your Resume”, “Preparing for an interview”, and “Managing my Finances”.
- Writing your resume has 30 participants that attend 3 days a week for one month. Each participant pays $50 per month. They pay the fee on the first day of classes. There are two advisors working half-time, earning $15 per hour. They are paid the next month. In addition, they lease 30 computers. The organization pays $1,500 for them on the last day of every quarter.
- Preparing for an interview has 16 participants each day, each participant must pay $5 per session of 30 minutes. Each participant pays right after each session. There is one advisor that works full-time and earns $20 per hour. She is paid on the last day of the month.
- Managing my Finances has 50 participants each week. They pay $10 per week. Usually, they pay 50% on the first day of the month and 50% on the last day of the month. There are five experts in finance and each expert receives $240 per month. Experts are all paid two months after they provide the service.
The organization must pay monthly rent for $5,600, utilities for $400 a week and these are due two months after the bill is issued. Yearly supplies are $18,000 and the organization pays for it every semester.
Prepare the operating budget of the organization on an accrual and cash basis for the first month of operations. (Additional information: working half time: 20 hours a week; 1month=4weeks=5days)
Related Book For
Auditing and Assurance services an integrated approach
ISBN: 978-0132575959
14th Edition
Authors: Alvin a. arens, Randal j. elder, Mark s. Beasley
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