Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts as needed. Revenues Contribution revenues Net assets released from restrictions Total revenues CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2020 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets Net assets January 1 Net assets December 31 Net Assets without Donor Restrictions $ Net Assets with Donor Restrictions 82,000 19,500 101,500 $ (26,000) Total $ 1,578,170 26,230 14,250 40,480 $ 0 1,578,170 1,025,000 362,600 7,600 74,740 1,469,940 108,230 33,750 141,980

Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts as needed. Revenues Contribution revenues Net assets released from restrictions Total revenues CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2020 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets Net assets January 1 Net assets December 31 Net Assets without Donor Restrictions $ Net Assets with Donor Restrictions 82,000 19,500 101,500 $ (26,000) Total $ 1,578,170 26,230 14,250 40,480 $ 0 1,578,170 1,025,000 362,600 7,600 74,740 1,469,940 108,230 33,750 141,980

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts as needed. Revenues Contribution revenues Net assets released from restrictions Total revenues CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2020 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets Net assets January 1 Net assets December 31 Net Assets without Donor Restrictions S 0 0 Net Assets with Donor Restrictions 82,000 19,500 101,500 $ (26,000) (26,000) Total $ 1,578,170 0 26,230 14,250 40,480 $ 0 1,578,170 1,025,000 362,600 7,600 74,740 1,469,940 108,230 33,750 141.980
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Exercise 10-8 (Algo) Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts as needed. Revenues Contribution revenues Net assets released from restrictions Total revenues CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2020 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets Net assets January 1 Net assets December 31 Net Assets without Donor Restrictions $ 0 0 90,000 21,000 111,000 Net Assets with Donor Restrictions $ (30,000) (30,000) 0 28.150 14,650 42,800 Total $ 1,595,530 $ 0 1,595,530 1,037,400 372,200 8,200 59,580 1,477,380 118,150 35,650 153,800
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…
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Required information [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, 2024, 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 Debits Adjustments: $ 29,400 53,000 VILLAGE OF SEASIDE PINES ENTERPRISE FUND Reconciliation of Operating Income to Net Cash Provided by Operating Activities For the year ended December 31, 2024 722,000 98,000 504,000 51,000 17,700 40,900 19,700 $ 1,535,700 Credits $ 112,000 32,600 51,000…
! Required information [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 Debits $ Credits 96,000 $ 32,000 28,000 45,000 47,000 12,000 712,000 89,000 550,000 479,000 45,000 17,000 Interest expense Interest revenue Transfer in from General Fund Bank note payable Supplies inventory Totals 40,000 18,000 4,000 119,000 625,000 $1,479,000 $1,479,000 Prepare the reconciliation of operating income to net cash provided by operating activities that would appear at the bottom of…
4. 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 Debits $32,000 47,000 712,000 89,000 479,000 45,000 17,000 40,000 18,000 $1,479,000 Credits $ 96,000 28,000 45,000 12,000 550,000 4,000 119,000 625,000 $1,479,000 Required: a. Prepare the closing entries for December 31. b. Prepare the Statement of Revenues, Expenses, and Changes in Fund Net Position for the year ended December 31. c. Prepare the Net Position section of the…
Prepare a balance sheet and a statement of revenues, expenditures, and changes in fund balance for the General Fund for the year ended December 31, 2021.
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