1. Stadent tuition and fees were $800,000. Unrestricted graduate and assistantshigp $19,100,000. 2. Collected $1,150,000 as summer Deferred revenue of the summer was earned. 3. State received in cash. 4. Collected federal and the remaining for scholarship. S. Revenues from bookstore and other services $15,200,000 were collected in cash. 6. Contributions scholarships, $620,000 for research, $600,000 for buildings, and $870,000 unrestricted. 7. Donors contributed $1,200,000 of which $700,000 restricted for scholarships and remainder for research. fees $1,500,000 Cash collection was revenue out ofwhich $300,000 applied to the current semester appropriations of $22,500,000 general unrestricted, and $1,300,000 for capital outlay were and state grant of $5,940,000 of which $3,140,000 was restricted for research assessed in the amount $21,500,000. Scholarship allowance of the following details were collected in cash: $500,000 restricted for 8. Interest receivable at the beginning was collected of $210,000, of that $185,000 was restricted 9. Unrestricted investment income $430,000 was earned of which $30,000 was accrued interest at year-end. Restricted income earned $1,970,000 ($1,260,000 for scholarship and $710,000 rescarch) of which $200,000 was accrued. 10. Paid all accounts payable and accrued liabilities of which $491,000 was paid with restricted 11. Paid cash of $50,000,000 for the following incurred unrestricted operating expenses: Salaries $37,787,000, utilities and supplies $14,835,000 of which $1,560,000 was consumed as inventories 12. Restricted cash of $7,872,000 was paid for the following restricted operating expenses: Salaries $3,042,000, utilities and supplies $1,029,000, and scholarship $4,000,000. 13. During the year, depreciation on building, equipment and improvements was amounted to $5,142,000. 14. During the year, the following capital expenditure were made: Land $2,125,000, building $1,600,000, equipment $2,400,000, and improvements $400,000. Paid 2,600,000 from restricted cash, $3,825,000 from unrestricted cash, and accrued the remaining 15. Purchased inventories of $1,355,000 and paid from unrestricted cash 16. Paid the current portion of long-term liabilities $1,525,000. Interest on revenue 1,500,000 of which $1,380,000 paid in cash. $1,475,000 of the revenue bonds will be paid next year. Transferred $200,000 cash from restricted to unrestricted net position. 17. Increased accrued liabilities of compensated absences by $412,000. 18. Sold short-term investments for $12,770,000. Purchased new short-term investments for 13,550,000 cash and its unrealized gain at year-end amounted to $166,000. Required: bond was 1. Journalize above transaction entries. 2. Prepare the statement of net position. 3. Prepare the statement of revenues, expenses, and change in net position. 1. Student tuition and fees were assessed in the amount $21,500,000. Scholarship allowance $800,000. Unrestricted graduate and assistantship fees $1,500,000 Cash collection was $19,100,000. 2. Collected S1,150,000 as summer revenue out of which $300,000 applied to the current semester Deferred revenue of the summer was earned. 3. State appropriations of $22,500,000 general unrestricted, and S1,300,000 for capital outlay were received in cash. ed federal and state grant of $$,940,000 of which $3,140,000 was restricted for rescarch and the remaining for scholarship. 5. Revenues from bookstore and other services S15,200,000 were collected in cash. 6. Contributions of the following details were collected in cash: $500,000 restricted for scholarships, $620,000 for research, $600,000 for buildings, and $870,000 unrestricted. 7. Donors contributed $1,200,000 of which $700,000 restricted for scholarships and remainder for research. 8. Interest receivable at the beginning was collected of S210,000, of that $185,000 was restricted. 9. Unrestricted investment income S430,000 was eaned of which $30,000 was accrued interest at year-end. Restricted income earned $1,970,000 (S1.260,000 for scholarship and $710,000 research) of which $200,000 was accrued. 10. Paid all accounts payable and accrued liabilties of which $491,000 was paid with restricted cash. 11. Paid cash of $50,000,000 for the following incurred unrestricted operating expenses: Salaries $37,787,000, utilities and supplies $14,835,000 of which $1,560,000 was consumed as inventories. 12. Restricted cash of $7,872,000 was paid for the following restricted operating expenses: Salaries $3,042,000, utilities and supplies $1,029,000, and scholarship $4,000,000. 13. During the year, depreciation on building, equipment and improvements was amounted to $5,142,000. 14. During the year, the following capital expenditure were made: Land $2,125,000, building S1,600,000, equipment $2,400,000, and improvements $400,000. Paid 2,600,000 from restricted cash, $3,825,000 from unrestricted cash, and accrued the remaining. 15. Purchased inventories of $1,355,000 and paid from unrestricted cash. 16. Paid the current portion of long-term liabilities S1,525,000. Interest on revenue bond was S1,500,000 of which $1,380,000 paid in cash. S1,475,000 of the revenue bonds will be paid next year. Transferred $200,000 cash from restricted to unrestricted net position. 17. Increased accrued liabilities of compensated absences by $412,000. 18. Sold short-term investments for $12,770,000. Purchased new short-term investments for $13,550,000 cash and its unrealized gain at year-end amounted to $166,000 Required: 1. Journalize above transaction entries 2. Prepare the statement of net position. 3. Prepare the statement of revenues, expenses, and change in net position. 1. Stadent tuition and fees were $800,000. Unrestricted graduate and assistantshigp $19,100,000. 2. Collected $1,150,000 as summer Deferred revenue of the summer was earned. 3. State received in cash. 4. Collected federal and the remaining for scholarship. S. Revenues from bookstore and other services $15,200,000 were collected in cash. 6. Contributions scholarships, $620,000 for research, $600,000 for buildings, and $870,000 unrestricted. 7. Donors contributed $1,200,000 of which $700,000 restricted for scholarships and remainder for research. fees $1,500,000 Cash collection was revenue out ofwhich $300,000 applied to the current semester appropriations of $22,500,000 general unrestricted, and $1,300,000 for capital outlay were and state grant of $5,940,000 of which $3,140,000 was restricted for research assessed in the amount $21,500,000. Scholarship allowance of the following details were collected in cash: $500,000 restricted for 8. Interest receivable at the beginning was collected of $210,000, of that $185,000 was restricted 9. Unrestricted investment income $430,000 was earned of which $30,000 was accrued interest at year-end. Restricted income earned $1,970,000 ($1,260,000 for scholarship and $710,000 rescarch) of which $200,000 was accrued. 10. Paid all accounts payable and accrued liabilities of which $491,000 was paid with restricted 11. Paid cash of $50,000,000 for the following incurred unrestricted operating expenses: Salaries $37,787,000, utilities and supplies $14,835,000 of which $1,560,000 was consumed as inventories 12. Restricted cash of $7,872,000 was paid for the following restricted operating expenses: Salaries $3,042,000, utilities and supplies $1,029,000, and scholarship $4,000,000. 13. During the year, depreciation on building, equipment and improvements was amounted to $5,142,000. 14. During the year, the following capital expenditure were made: Land $2,125,000, building $1,600,000, equipment $2,400,000, and improvements $400,000. Paid 2,600,000 from restricted cash, $3,825,000 from unrestricted cash, and accrued the remaining 15. Purchased inventories of $1,355,000 and paid from unrestricted cash 16. Paid the current portion of long-term liabilities $1,525,000. Interest on revenue 1,500,000 of which $1,380,000 paid in cash. $1,475,000 of the revenue bonds will be paid next year. Transferred $200,000 cash from restricted to unrestricted net position. 17. Increased accrued liabilities of compensated absences by $412,000. 18. Sold short-term investments for $12,770,000. Purchased new short-term investments for 13,550,000 cash and its unrealized gain at year-end amounted to $166,000. Required: bond was 1. Journalize above transaction entries. 2. Prepare the statement of net position. 3. Prepare the statement of revenues, expenses, and change in net position. 1. Student tuition and fees were assessed in the amount $21,500,000. Scholarship allowance $800,000. Unrestricted graduate and assistantship fees $1,500,000 Cash collection was $19,100,000. 2. Collected S1,150,000 as summer revenue out of which $300,000 applied to the current semester Deferred revenue of the summer was earned. 3. State appropriations of $22,500,000 general unrestricted, and S1,300,000 for capital outlay were received in cash. ed federal and state grant of $$,940,000 of which $3,140,000 was restricted for rescarch and the remaining for scholarship. 5. Revenues from bookstore and other services S15,200,000 were collected in cash. 6. Contributions of the following details were collected in cash: $500,000 restricted for scholarships, $620,000 for research, $600,000 for buildings, and $870,000 unrestricted. 7. Donors contributed $1,200,000 of which $700,000 restricted for scholarships and remainder for research. 8. Interest receivable at the beginning was collected of S210,000, of that $185,000 was restricted. 9. Unrestricted investment income S430,000 was eaned of which $30,000 was accrued interest at year-end. Restricted income earned $1,970,000 (S1.260,000 for scholarship and $710,000 research) of which $200,000 was accrued. 10. Paid all accounts payable and accrued liabilties of which $491,000 was paid with restricted cash. 11. Paid cash of $50,000,000 for the following incurred unrestricted operating expenses: Salaries $37,787,000, utilities and supplies $14,835,000 of which $1,560,000 was consumed as inventories. 12. Restricted cash of $7,872,000 was paid for the following restricted operating expenses: Salaries $3,042,000, utilities and supplies $1,029,000, and scholarship $4,000,000. 13. During the year, depreciation on building, equipment and improvements was amounted to $5,142,000. 14. During the year, the following capital expenditure were made: Land $2,125,000, building S1,600,000, equipment $2,400,000, and improvements $400,000. Paid 2,600,000 from restricted cash, $3,825,000 from unrestricted cash, and accrued the remaining. 15. Purchased inventories of $1,355,000 and paid from unrestricted cash. 16. Paid the current portion of long-term liabilities S1,525,000. Interest on revenue bond was S1,500,000 of which $1,380,000 paid in cash. S1,475,000 of the revenue bonds will be paid next year. Transferred $200,000 cash from restricted to unrestricted net position. 17. Increased accrued liabilities of compensated absences by $412,000. 18. Sold short-term investments for $12,770,000. Purchased new short-term investments for $13,550,000 cash and its unrealized gain at year-end amounted to $166,000 Required: 1. Journalize above transaction entries 2. Prepare the statement of net position. 3. Prepare the statement of revenues, expenses, and change in net position