1 Required:Presented below is a partially completed Statement of Activities for a homeless shelter. Complete theStatement of Activities by filling in any missing amounts.Answer is complete but not entirely correct.CENTERVILLE AREA HOMELESS SHELTERStatement of ActivitiesFor the Year Ended December 31, 2024Net AssetswithoutDonorRestrictionsNet Assetswith DonorRestrictionsTotalRevenuesContribution revenues$ 1,534,680S 39,150 $ 1,573,830Net assets released from restrictions25,000Total revenues1,559,680(25,000)14,15001,573,830ExpensesTemporary shelter programSelf-sufficiency programFund raisingAdministrationTotal expensesIncrease in net assets1,021,9001,021,900360,2000360,2007,45007,45078,530078,5301,468,08001,468,08080,00025,750105,750Net assets January 118,00014,15032,150Net assets December 31$98,000S39,900137,900

Statement of activities is a financial report that is used by non-profit organization to report the…

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

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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