I would like to get help from this activity Activity 5 G82030000481589MODULE 5 | Non-profit organisationsThe following information was obtained from the books of Golden Years Old Age Home on 30 June 20X1,the end of the financial period.On 1 July 20X0 fees amounting to R48 200 were still outstanding.On 1 July 20X0 fees paid in advance for the next financial periodwere R35 900.During the period 1 July 20X0 to 30 June 20X1 fees amounting toR1 467 390 were received.On 30 June 20X1 fees amounting to R62 930 were still outstanding.GoldenOld Age HomeYearsOn 30 June 20X1 fees paid in advance for the next financial period were R25 390.Of the outstanding fees on 1 July 20X0, R35 190 was recovered. The balance of the outstanding fees on thatdate was written off as irrecoverable.RequiredShow the necessary entries in the books of the Golden Years Old Age Home.H/W

1. Outstanding Fees on 1 July 20X0Debit: Accounts Receivable (Outstanding Fees) R48,200Credit: Fees…

Answered: Activity 5 G 8 20 30 000481589 MODULE 5…

Quickbooks Online Accounting

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ISBN:9780357391693

Author:Owen

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Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 4.11C

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Question 5 options: A local Non for Profit had the following activity in October 2022: Cash Donations $200,000 Unrestricted Pledges made during monthly phone a thon to solicit donations $15,000 Expected uncollectible pledges from monthly phone a thon to solicit donations $3,000 What is the correct amount of Contribution Revenue the non for profit should recognize in October 2022? (do not use $ signs, commas or decimals in your answer)
2 The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 108,000 Accounts receivable $ 27,400 Accrued interest payable 30,600 Accumulated depreciation 49,000 Administrative and selling expenses 51,000 Allowance for uncollectible accounts 13,000 Capital assets 714,000 Cash 96,800 Charges for sales and services 561,000 Cost of sales and services 500,000 Depreciation expense 49,000 Due from General Fund 17,300 Interest expense 40,500 Interest revenue 5,300 Transfer in from General Fund 117,600 Bank note payable 630,400 Supplies inventory 18,900 Totals $ 1,514,900 $ 1,514,900 Required: Prepare the closing entries for December 31. Prepare the Statement of Revenues, Expenses, and Changes in Fund…
3 The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 108,000 Accounts receivable $ 27,400 Accrued interest payable 30,600 Accumulated depreciation 49,000 Administrative and selling expenses 51,000 Allowance for uncollectible accounts 13,000 Capital assets 714,000 Cash 96,800 Charges for sales and services 561,000 Cost of sales and services 500,000 Depreciation expense 49,000 Due from General Fund 17,300 Interest expense 40,500 Interest revenue 5,300 Transfer in from General Fund 117,600 Bank note payable 630,400 Supplies inventory 18,900 Totals $ 1,514,900 $ 1,514,900 Required: Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at…
3 The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2024, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Debits Credits Accounts payable $ 108,000 Accounts receivable $ 27,400 Accrued interest payable 30,600 Accumulated depreciation 49,000 Administrative and selling expenses 51,000 Allowance for uncollectible accounts 13,000 Capital assets 714,000 Cash 96,800 Charges for sales and services 561,000 Cost of sales and services 500,000 Depreciation expense 49,000 Due from General Fund 17,300 Interest expense 40,500 Interest revenue 5,300 Transfer in from General Fund 117,600 Bank note payable 630,400 Supplies inventory 18,900 Totals $ 1,514,900 $ 1,514,900 Required: Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the…
Which of the following journal entry is appropriate to recognize that a not-for-profit organization collected P200,000 of amounts pledged and wrote off P10,000 of amounts pledged as amounts uncollectible? a.Debit Pledges Receivable P200,000; Credit Cash P200,000. b.Debit Cash P200,000; Debit Allowance for uncollectible pledges P10,000; Credit Pledges Receivable P210,000. c.Debit Pledges Receivable P200,000; Credit Allowance for uncollectible pledges P10,000, Credit Cash P210,000. d.Debit Cash P200,000; Credit Pledges Receivable P200,000. e.Debit Cash P200,000; Debit Allowance for uncollectible pledges P10,000; Credit Unrestricted net assets-contributions P210,000.
Problem #2 The following information was taken from the accounts and records of the Helping Hands Foundation, a private, not-for-profit organization classified as a VHWO. All balances are as of June 30, 2018, unless otherwise noted. Unrestricted Support - Contributions $2,000,000 Unrestricted Support - Membership Dues 640,000 Unrestricted Revenues - Investment Income 80,000 Temporarily restricted gain on sale of investments 25,000 Expenses - Program Services 1,860,000 Expenses - Supporting Services 350,000 Expenses - Supporting Services 550,000 Temporarily Restricted Support - Contributions 640,000 Temporarily Restricted Revenues - Investment Income…
Hw.17.
Required information Exercise 6-4 and Exercise 6-5 (Algo) [The following information applies to the questions displayed below.] The Village of Seaside Pines prepared the following enterprise fund Trial Balance as of December 31, 2020, the last day of its fiscal year. The enterprise fund was established this year through a transfer from the General Fund. Accounts payable Accounts receivable Accrued interest payable Accumulated depreciation Administrative and selling expenses Allowance for uncollectible accounts Capital assets Cash Charges for sales and services Cost of sales and services Depreciation expense Due from General Fund Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals Exercise 6-4 (Algo) $ Debits 31,900 55,500 732,000 99,500 509,000 53,500 18, 200 41,400 Credits $ 117,000 35,100 53,500 13,900 579,000 6,200 128,500 628,500 20,700 $1,561,700 $1,561,700 Required: a. Prepare the closing entries for December 31. b. Prepare…
Hi, Could you please help me fill in the missing values labeled a through i. Thank you
A non-profit organization received S80,000 as the entrance fee of a new member. If 10% of the fee has to be capitalized, what is the amount of fee needs to be shown in the income and expenditure account? O a. S72,000 O b. $82,000 O . S80,000 O d. $62,000
5
4. Non-Profit Conceras: The following is the receipts and payments account of Insanint Welfare Society for the year ended on December 31, 2020. Rs. Rs. 9,000 20,000 Receipts Payments Utilities Expenses Free Supply of ration General Expenses Opening Balance 10,000 Rent Revenue 50,000 Donations 40,000 12,000 10,000 Salary Expenses Other Revenues 18,000 Furniture 10,000 Additional information. ) Prepaid Salaries Rs. 3,000 lI) Unearned Rent Rs. 5,000 ili) Utilities Payable Rs. 4,000 iv) Depreciation on furniture Rs. 1,000 Required: Prepare an Income and Expenditure account for the year ended on December 31, 2020.

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