All facts about this NFPO are identical to those described in Problem 2, except that the association wants to use the deferral method of accounting for contributions.
The centre will continue to use the three separate funds.

Required:
Prepare a statement of financial position and statement of operations for each of the three funds as at and for the year ended December 31, Year 5.

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PERCH FALLS MINOR HOCKEY ASSOCIATION ($000s) Operating fund Capital fund Endowment fund Cash inflows $ 90 Government grant for operating costs Government grant for hockey arena Corporate donations for hockey arena Registration fees Contribution for tournaments Rental of hockey arena Interest received $500 460 50 70 210 205 $50 960 53 Cash outflows Operating expenses Construction of hockey arena Purchase of marketable securities Travel costs for tournament 960 50 205 960 53 Cash, end of year