Draw ledger account for solution 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

Key Information:Outstanding fees (July 1, 20X0): R48,200.Fees paid in advance for the next financial…

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

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 4.11C

See similar textbooks

Similar questions

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…
not use ai
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…
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
5
Subject : Accounting
Problem 1 - The American Red Cross, a not for profit entity, had the following transactions; 1/20/20 Received a $200,000 donation in support of its activities 2/4/20 Received a $150,000 Federal grant to provide supplies and aid to survivors of a recent earthquake 2/21/20 Spent $180,000 of the 1/20/20 donation aiding victims of a hurricane in Florida 2/25/20 Spent $110,000 of the 2/4/20 grant aiding survivors of the recent earthquake Required; Prepare the journal entries for the above transactions. Remember to note whether the accounts involved are restricted or unrestricted.
Calibri (Bod... ♥ 12 I U B of 2 ab x₂ 437 words X IE A Aa R AUG 3 PO ♥ ✔ Focus 4 Question 31 Faith Community Church is exempt from Federal income taxation under § 501(c)(3). To supplement its contribution revenue, it holds bingo games on Saturday nights. It holds all of the licenses and permits required to do so. The net income from the bingo games is $90,000. Of these funds, $60,000 is used to support the ministry of the church. The balance of $30,000 is invested in Faith's endowment fund for church music. Faith Community Church is located in a resort city where bingo games can be conducted by churches, charities, and for-profit entities. a. Will conducting the bingo games affect the exempt status of the church? Explain. b. Calculate the Federal tax liability, if any, associated with the bingo games. While tax-exempt entities are indeed generally exempt from paying Federal income tax, they must operate in ways that guarantee that they remain in compliance with tax laws governing their…

SEE MORE QUESTIONS

Recommended textbooks for you

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

Quickbooks Online Accounting

Accounting

ISBN:

9780357391693

Author:

Owen

Publisher:

Cengage

SEE MORE TEXTBOOKS