Required: Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts. Revenues Answer is complete but not entirely correct. CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2024 Net Assets without Donor Restrictions Net Assets with Donor Restrictions Total Contribution revenues $ 1,534,680 Net assets released from restrictions Total revenues 25,000 1,559,680 S 39,150 $ 1,573,830 (25,000) 0 14,150 1,573,830 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets 1,021,900 1,021,900 360,200 0 360,200 7,450 0 7,450 78,530 78,530 1,468,080 0 1,468,080 80,000 25,750 105,750 Net assets January 1 18,000 14,150 32,150 Net assets December 31 $ 98,000 S 39,900 S 137,900
Required: Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the Statement of Activities by filling in any missing amounts. Revenues Answer is complete but not entirely correct. CENTERVILLE AREA HOMELESS SHELTER Statement of Activities For the Year Ended December 31, 2024 Net Assets without Donor Restrictions Net Assets with Donor Restrictions Total Contribution revenues $ 1,534,680 Net assets released from restrictions Total revenues 25,000 1,559,680 S 39,150 $ 1,573,830 (25,000) 0 14,150 1,573,830 Expenses Temporary shelter program Self-sufficiency program Fund raising Administration Total expenses Increase in net assets 1,021,900 1,021,900 360,200 0 360,200 7,450 0 7,450 78,530 78,530 1,468,080 0 1,468,080 80,000 25,750 105,750 Net assets January 1 18,000 14,150 32,150 Net assets December 31 $ 98,000 S 39,900 S 137,900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
1
Transcribed Image Text:Required:
Presented below is a partially completed Statement of Activities for a homeless shelter. Complete the
Statement of Activities by filling in any missing amounts.
Answer is complete but not entirely correct.
CENTERVILLE AREA HOMELESS SHELTER
Statement of Activities
For the Year Ended December 31, 2024
Net Assets
without
Donor
Restrictions
Net Assets
with Donor
Restrictions
Total
Revenues
Contribution revenues
$ 1,534,680
S 39,150 $ 1,573,830
Net assets released from restrictions
25,000
Total revenues
1,559,680
(25,000)
14,150
0
1,573,830
Expenses
Temporary shelter program
Self-sufficiency program
Fund raising
Administration
Total expenses
Increase in net assets
1,021,900
1,021,900
360,200
0
360,200
7,450
0
7,450
78,530
0
78,530
1,468,080
0
1,468,080
80,000
25,750
105,750
Net assets January 1
18,000
14,150
32,150
Net assets December 31
$
98,000
S
39,900
137,900
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education