The December 31, 2020, statement of financial position for the Blood Donors of America Foundation is presented below.

Additional information concerning the statement of financial position is as follows:

1. Except for $70,000 of cash, the Endowment Fund is made up of investments only. There are no liabilities.

2. The Plant Fund has no current liabilities and includes some investments and $15,000 in cash.

3. In addition to investments, the Current Restricted Fund consists of the pledges receivable, $35,000 of accounts payable, and cash of $155,000.

Required:

Prepare a corrected statement of financial position for the Blood Donors of America Foundation at December 31, 2020, using the following columnar format:

Transcribed Image Text:

Statement of Financial Position December 31, 2020 Assets $ 470,000 Cash Accounts Receivable 160,000 Allowance for Doubtful Accounts (30,000) Pledges Receivable Allowance for Doubtful Pledges 930,000 (130,000) Inventories 400,000 Investments 19,300,000 Land 1,300,000 Buildings and Improvements 46,500,000 Equipment 2,700,000 (13,500,000) Accumulated Depreciation Other Assets 200,000 Total Assets $58,300,000 Liabilities $ 700,000 Accounts Payable Accrued Expenses 130,000 Deferred Revenue-Unrestricted 100,000 Deferred Capital Addition Long-term Debt 1,600,000 7,350,000 Total Liabilities 9,880,000 Fund Balances 29,000,000 Plant Endowment 3,850,000 Restricted 7,300,000 Unrestricted 8,270,000 Total Fund Balances 48,420,000 $58,300,000 Total Liabilities and Fund Balances Current Current Unrestricted Plant Endowтеnt Total Restricted |(Account Titles) $ (AICPA adapted) %24