The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets: Without donor restriction funds With donor restriction funds The aggregate amount The statement of activities for the year ended March 31, 20X3

Question

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Answer 1

Question

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000

Explanation of Solution

The total amount of assets and liabilities as of June 30, 20X4 is $163,000

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Students have asked these similar questions

Subject : Accounting

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

Statement of activities for a nonprofit The following information was excerpted from the records of a nonprofit. All account balances are as of the fiscal year ended June 30, 2019, except for the net asset balances at the beginning of the year. Prepare a statement of activities for the nonprofit. Contribution revenue (without donor restrictions) $ 86,000 Contribution revenue (with donor restrictions) 80,000 Investment return, net (without donor restrictions) 5,000 Investment return, net (with donor restrictions) 15,000 Expenses-Program A 23,000 Expenses-Program B 26,000 Expenses-Management and general 4,000 Expenses-Fundraising 2,000 Net assets with donor restrictions-Reclassifications out- Satisfaction of program restrictions 17,000 Net assets without donor restrictions-Reclassifications in- Satisfaction of program restrictions 17,000 Net assets at beginning of year-without donor restrictions 80,000 Net assets at beginning of year-with donor restrictions 180,000 Use a negative sign…

Answer 2

Question

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000

Explanation of Solution

The total amount of assets and liabilities as of June 30, 20X4 is $163,000

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Answer 3

Question

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000

Explanation of Solution

The total amount of assets and liabilities as of June 30, 20X4 is $163,000

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Answer 4

Question

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000

Explanation of Solution

The total amount of assets and liabilities as of June 30, 20X4 is $163,000

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Answer 5

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000

Explanation of Solution

The total amount of assets and liabilities as of June 30, 20X4 is $163,000

Answer 6

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

Answer 7

Chapter 19, Problem 19.14P

(a)

To determine

Introduction: The statement of activities is the financial statement of a non- profit organization or otherwise. The statement of activities has multiple columns for reporting the amounts for the following net assets:

Without donor restriction funds

With donor restriction funds

The aggregate amount

The statement of activities for the year ended March 31, 20X3

Answer 8

(a)

Expert Solution

Answer to Problem 19.14P

Statement of Activities for the year ended December 31, 20X2

Particulars	Unrestricted	Temporarily restricted
Public support and revenue:
Public support:
Contributions (300,000-2,000)	298,000	15,000
Revenues:
Membership fees	25,000
Program service fees	30,000
Investment income	10,000
Net assets realized
Time restriction (endowment fund)	20,000	(20,000)
Use restriction	5,000	(5,000)
Total support and revenue (A)	388,000	10,000

Expenses:
Program services:
Deaf children	120,000
Blind children	150,000
Total program services	270,000

Supporting services:
Management and general	49,000
Fund raising	9,000
Total supporting services	58,000
Total expenses (B)	8,000

Change in net assets (A-B)	60,000	(10,000)
Add: Fund balance, July 1, 20X3	38,000	23,000
Fund balance, June 30, 20X4	98,000	13,000

Answer 9

(a)

Expert Solution

Answer 10

(a)

Expert Solution

Answer 11

Expert Solution

Answer 12

Explanation of Solution

The statement of activities is the financial statement for a no- profit organization. In the above presented statement of activities, CA’s various revenues and expenses are shown under their respective heads. The amount of unrestricted fund balance is $98,000 and temporarily restricted fund is $13,000 as of June 30, 20X4

Answer 13

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000

Explanation of Solution

The total amount of assets and liabilities as of June 30, 20X4 is $163,000

Answer 14

(b)

To determine

Introduction: The financial statement of a company discloses the financial position of a company at the end of the year. With the help of a financial statement one can know the financial capacity of a company at any given point of time.

The financial statement of C for the year ended June 30, 20X4

Answer 15

(b)

Expert Solution

Answer to Problem 19.14P

Financial statement for the year ended June 30, 20X4

Particulars	Amount	Amount

Assets:
Cash		40,000
Investments		100,000
Pledges receivable		9,000
Interest receivable		1,000
Restricted assets		13,000
Total assets		163,000

Liabilities:
Accounts payable		50,000
Deferred revenue		2,000

Net assets:
Unrestricted	98,000
Temporarily restricted	13,000
Total net assets		111,000
Total liabilities and net assets		163,000