4250 V&V is a non profit organization whose mission is to provide service and help the blind, desland mute. December 31, 2019, i presented the following ADJUSTED trial balance, before year end closing eniries: 2015 Account Description Credit 101 Cash 23 102 Accounts receivable 242 204 103 Allowance for doubtful accounts 104 Prepaid expenses 105 Property Semant 638 913 100 Accumulated depreciabon 4/2015 201 Bank loan 175 000 202 Accounts arable 203 Salanies and revitance payable 60 204 Miscellanos 4285116 205 Current portion of long term debt 45 309 206 Long term debi 301 Invested in capitalas opening 105 982 302 Unrestricted opening 716 617 401 Government grants 1067 190 402 Donations contrbution 1022002 401 Service 643241 404 Other revenues 301 Salaries and remittance 12062222 SOZ Professional fees 190 175 503 Reni 174443 504 Dantesisluga 29.069 505 Traveling 29 905 506 Telecommunication 50 480 507 Omice supplies 500 Insurance 8354 509 Training 16.95 510 Bott 511 Marketing 16 550 312 Interest and bank lees 323394 December 31, 2020, its following year end. V&V presents the following UHADJUSTED sal balance: 126 793 192 660 1150 4451 638 913 er 025 25.000 559 072 2017 20045 189.273 12011 1664 - 769 034 Account Descripcion 101 Cash 102 Accounts receivable 103 Allowance for doubtful sounds 104 Prepaid expenses 105 Propertplanlegu pment 106 Accumulated depression 201 Rank loan 202 Accounts payable 203 Salaries and remittance payable 204 Miscelanosa 205 Curreal portion of long term debl 204. Llong term debt 2011 Invested in catalanes 302 Unresincled opening 401 Governants 402 Donations contributions 401 Service revenue 404 Other moves 501 Salanes and rewtance 502 Professional lees 503 Rend 500 Depreciation sos Traveling 506 Telecommunication 507 Once supplies 503 Insurance 509 Training 510 Baddebt Marketing 512 Interest and bank lees 794 809 175 102 $47127 96 619 237291 20723 7290 48 854 11712 6945 15.741 91 782 05061 361 In 2020, the following activities occured and the related joumal entries were not yet recorded as of December 31, 2020- 1- on March 19, 2020, VEV bought a new computer equipments for a local amount of 33 1535. This amount was intemaly restricted for that particular purpose 2- This computer equipment bought by V&V is depreciated using the straight line method over a period of 3 years. As of December 31, 2020, the computer equipment of 139135 as of December 31, 2019 (prior to the purchase of the new computer equipment in 1-) is fully 3- VEV got a confirmation of a provincial government grant of 125 0005 in September 2020. They estimate they will received a check for payment of the grant money in March 2021. There are no restriction on this grant 4- V&V estimated that so 97355 of their accounts receivable for 2020 have small chance of being recovered. 5- February 2020, V&V received a promise for a donation of 10 0005 from is founder. was paid cash to VaV in November 2020. There was no restriction on this donation - VEV received a resincied contribution (donation) of 75 0005 on January 1, 2020 for building renovations ihat will increase its useful le. The renovation were completed January 31, 2020. ADDITIONAL INFORMATION Property, plant & equipmeni delails as of December 31, 2018 is as follow Property, plant & equipment-2018 Cost Computer equipment 13 913 Office equipment 50 000 Building 575 000 636973 Accumulated depreciation Pat Book Value Depreciation method 10 280 3633 Straight line - 3 years 36 $44 13056 Declining method -20% 424852 150 148 Declining method -4% 472096 B) C) D) REQUIRED: A) Prepare V&V December 31, 2018 year end's balance sheet and income statement Set up the disled T-accounts for 2020 and prepare jounal entries related to the clientes not yet recorded as of December 31, 2020 Joumalized and post 2020's unrecorded journal entries into your T-accounts: Prepare the ADJUSTED trial balance as of December 31, 2020 E) Prepare comparative balance sheei. Income sialement and statement of change in net asset as of December 31, 2020 showing the comparative balances as of December 31, 2019 first column for 2020 ei and second column for 2019. for each statements). Take inic account that the opening balance of invested in capital assets in 2019 is 105 9575 (credit balance) and Unrestrited is 716 617 (debil balance) as culined in the adjusted trial balance as of December 31, 2019 shown above Prepare the net book value details of Property, plant and equipment on the same format as shown for 2019 in the unrecorded aciimity 7 above. Provide your answer in the same formal G) Using your comparative statements prepared in E), prepare the statement of cash fou as of December 31, 2020. You do not need to present the comparative figures as of December 31, 2019 in the cash flow statement Aker closing the accounts, prepare the closing trial balance as of December 31, 2020 (or the opening trial balance as of January 1, 202,1). F) H) In 2020, the following activities occured and the related joumal entries were not yet recorded as of December 31, 2020: 1- on March 19, 2020, V&V bought a new computer equipments for a total amount of 33 1535. This amount was intemaly restricted for that particular purpose 2. This computer equipment bought by V&V is depreciated using the straight line method over a period of 3 years. As of December 31, 2020, the computer equipment of 139135 as of December 31, 2019 prior to the purchase of the new computer equipmeni in 1-) is fully 3. Ve got a confirmation of a provincial government gant of 125 0005 in September 2020. They estimate they will received a check for payment of the grant money in March 2021. There are no restriction on this grant 4- V&V estimated that 5097355 of their accounts receivable for 2020 have small chance of being recovered. 5- In February 2020. V&V received a promise for a donation of 10 000 from its founder. I was paid cash to V&V in November 2020. There was no restriction on this donation 6. V&V received a restricted contribution (donation) of 75 0005 on January 1, 2020 for building renovations that will increase its useful lin. The renovation were completed January 31, 2020 ADDITIONAL INFORMATION Property, plant & equipmeni delals as of December 31, 2012 is as follow: Property, plant & equipment-2018 Cost Computer equipment 13 913 Office equipment 50 000 Building 575 000 63895 Accumulated depreciation Het Book Value Depreciation method 10 280 3633 Straight line - 3 years 36 94 13056 Declining method -20% 424 852 150 140 Declining method -4% 472076 166837 c) D) E) REQUIRED: A) Prepare V&V December 31, 2019 year end's balance sheet and income statement, 8) Set up the listed T-accounts for 2020 and prepare journal entries related to the actrices not yet recorded as of December 31, 2020 Joumalized and post 2020's unrecorded journal entries into your T-accounts: Prepare the ADJUSTED trial balance as of December 31, 2020: Prepare comparative balance sheel, income statement and statement of change in net asset as of December 31, 2020 showing the comparative balances as of December 31, 2019 (first column for 2020 et and second column for 2019. for each statements). Take inlo account that the opening balance of Invested in capital assels in 2019 is 105 9525 (credil balance) and Unrestored is 716 617 (debit balance) as oullined in the adjusted irial balance as of December 31, 2019 shown above: Prepare the netbook value details of Property, plant and equipment on the same format as shown for 2019 in the unrecorded activity 7 above. Provide your answer in the same lomal G) Using your comparative statements prepared in E), prepare the statement of cash flow as of December 31, 2020. You do not need to present the comparative figures as of December 31, 2019 in the cash flow statement. Alter closing the accounts, prepare the closing trial balance as of December 31, 2020 for the opening trial balance as of January 1, 2021). F) H) 4250 V&V is a non profit organization whose mission is to provide service and help the blind, desland mute. December 31, 2019, i presented the following ADJUSTED trial balance, before year end closing eniries: 2015 Account Description Credit 101 Cash 23 102 Accounts receivable 242 204 103 Allowance for doubtful accounts 104 Prepaid expenses 105 Property Semant 638 913 100 Accumulated depreciabon 4/2015 201 Bank loan 175 000 202 Accounts arable 203 Salanies and revitance payable 60 204 Miscellanos 4285116 205 Current portion of long term debt 45 309 206 Long term debi 301 Invested in capitalas opening 105 982 302 Unrestricted opening 716 617 401 Government grants 1067 190 402 Donations contrbution 1022002 401 Service 643241 404 Other revenues 301 Salaries and remittance 12062222 SOZ Professional fees 190 175 503 Reni 174443 504 Dantesisluga 29.069 505 Traveling 29 905 506 Telecommunication 50 480 507 Omice supplies 500 Insurance 8354 509 Training 16.95 510 Bott 511 Marketing 16 550 312 Interest and bank lees 323394 December 31, 2020, its following year end. V&V presents the following UHADJUSTED sal balance: 126 793 192 660 1150 4451 638 913 er 025 25.000 559 072 2017 20045 189.273 12011 1664 - 769 034 Account Descripcion 101 Cash 102 Accounts receivable 103 Allowance for doubtful sounds 104 Prepaid expenses 105 Propertplanlegu pment 106 Accumulated depression 201 Rank loan 202 Accounts payable 203 Salaries and remittance payable 204 Miscelanosa 205 Curreal portion of long term debl 204. Llong term debt 2011 Invested in catalanes 302 Unresincled opening 401 Governants 402 Donations contributions 401 Service revenue 404 Other moves 501 Salanes and rewtance 502 Professional lees 503 Rend 500 Depreciation sos Traveling 506 Telecommunication 507 Once supplies 503 Insurance 509 Training 510 Baddebt Marketing 512 Interest and bank lees 794 809 175 102 $47127 96 619 237291 20723 7290 48 854 11712 6945 15.741 91 782 05061 361 In 2020, the following activities occured and the related joumal entries were not yet recorded as of December 31, 2020- 1- on March 19, 2020, VEV bought a new computer equipments for a local amount of 33 1535. This amount was intemaly restricted for that particular purpose 2- This computer equipment bought by V&V is depreciated using the straight line method over a period of 3 years. As of December 31, 2020, the computer equipment of 139135 as of December 31, 2019 (prior to the purchase of the new computer equipment in 1-) is fully 3- VEV got a confirmation of a provincial government grant of 125 0005 in September 2020. They estimate they will received a check for payment of the grant money in March 2021. There are no restriction on this grant 4- V&V estimated that so 97355 of their accounts receivable for 2020 have small chance of being recovered. 5- February 2020, V&V received a promise for a donation of 10 0005 from is founder. was paid cash to VaV in November 2020. There was no restriction on this donation - VEV received a resincied contribution (donation) of 75 0005 on January 1, 2020 for building renovations ihat will increase its useful le. The renovation were completed January 31, 2020. ADDITIONAL INFORMATION Property, plant & equipmeni delails as of December 31, 2018 is as follow Property, plant & equipment-2018 Cost Computer equipment 13 913 Office equipment 50 000 Building 575 000 636973 Accumulated depreciation Pat Book Value Depreciation method 10 280 3633 Straight line - 3 years 36 $44 13056 Declining method -20% 424852 150 148 Declining method -4% 472096 B) C) D) REQUIRED: A) Prepare V&V December 31, 2018 year end's balance sheet and income statement Set up the disled T-accounts for 2020 and prepare jounal entries related to the clientes not yet recorded as of December 31, 2020 Joumalized and post 2020's unrecorded journal entries into your T-accounts: Prepare the ADJUSTED trial balance as of December 31, 2020 E) Prepare comparative balance sheei. Income sialement and statement of change in net asset as of December 31, 2020 showing the comparative balances as of December 31, 2019 first column for 2020 ei and second column for 2019. for each statements). Take inic account that the opening balance of invested in capital assets in 2019 is 105 9575 (credit balance) and Unrestrited is 716 617 (debil balance) as culined in the adjusted trial balance as of December 31, 2019 shown above Prepare the net book value details of Property, plant and equipment on the same format as shown for 2019 in the unrecorded aciimity 7 above. Provide your answer in the same formal G) Using your comparative statements prepared in E), prepare the statement of cash fou as of December 31, 2020. You do not need to present the comparative figures as of December 31, 2019 in the cash flow statement Aker closing the accounts, prepare the closing trial balance as of December 31, 2020 (or the opening trial balance as of January 1, 202,1). F) H) In 2020, the following activities occured and the related joumal entries were not yet recorded as of December 31, 2020: 1- on March 19, 2020, V&V bought a new computer equipments for a total amount of 33 1535. This amount was intemaly restricted for that particular purpose 2. This computer equipment bought by V&V is depreciated using the straight line method over a period of 3 years. As of December 31, 2020, the computer equipment of 139135 as of December 31, 2019 prior to the purchase of the new computer equipmeni in 1-) is fully 3. Ve got a confirmation of a provincial government gant of 125 0005 in September 2020. They estimate they will received a check for payment of the grant money in March 2021. There are no restriction on this grant 4- V&V estimated that 5097355 of their accounts receivable for 2020 have small chance of being recovered. 5- In February 2020. V&V received a promise for a donation of 10 000 from its founder. I was paid cash to V&V in November 2020. There was no restriction on this donation 6. V&V received a restricted contribution (donation) of 75 0005 on January 1, 2020 for building renovations that will increase its useful lin. The renovation were completed January 31, 2020 ADDITIONAL INFORMATION Property, plant & equipmeni delals as of December 31, 2012 is as follow: Property, plant & equipment-2018 Cost Computer equipment 13 913 Office equipment 50 000 Building 575 000 63895 Accumulated depreciation Het Book Value Depreciation method 10 280 3633 Straight line - 3 years 36 94 13056 Declining method -20% 424 852 150 140 Declining method -4% 472076 166837 c) D) E) REQUIRED: A) Prepare V&V December 31, 2019 year end's balance sheet and income statement, 8) Set up the listed T-accounts for 2020 and prepare journal entries related to the actrices not yet recorded as of December 31, 2020 Joumalized and post 2020's unrecorded journal entries into your T-accounts: Prepare the ADJUSTED trial balance as of December 31, 2020: Prepare comparative balance sheel, income statement and statement of change in net asset as of December 31, 2020 showing the comparative balances as of December 31, 2019 (first column for 2020 et and second column for 2019. for each statements). Take inlo account that the opening balance of Invested in capital assels in 2019 is 105 9525 (credil balance) and Unrestored is 716 617 (debit balance) as oullined in the adjusted irial balance as of December 31, 2019 shown above: Prepare the netbook value details of Property, plant and equipment on the same format as shown for 2019 in the unrecorded activity 7 above. Provide your answer in the same lomal G) Using your comparative statements prepared in E), prepare the statement of cash flow as of December 31, 2020. You do not need to present the comparative figures as of December 31, 2019 in the cash flow statement. Alter closing the accounts, prepare the closing trial balance as of December 31, 2020 for the opening trial balance as of January 1, 2021). F) H)