517 Steiner College's statement of financial position for the year anded June 30, 2022. u presented hero. Steiner as a private college STENER COLLEGE Statement of Financial Position June 30, 2022 amounts in thousand Assets Cash and cath equivalent $ 738 Short-term investments 7.670 Tuition and fous receivable of course of 58) 235 Predges receivable (net of doubthat account of $284) Prepaid 1306 Property, plant and equipment net of accumulated depreciation of 104.280) 201.400 Investments (ut faire cost of 5184 700) 155.000 Total $450.00 Lisbies and Net Assets Accounts payable and accredibles $ 21.170 Deferred revenue Deposits held in custody for the 705 Bnh tay loi 1.000 Tolle $104040 With donor restriction 234276 Totalnut 30.316 Total abies and not assets 3456015 and done in The following transaction information (amounts in thousands pertains to the year ended June 30, 2023 During the year, charges for tution and foes were $244.550, scholarshipa were 16.260, and tuition waivers for scholastic achievement were $6.150. After payment was received, taltion refunds of 2 The college received cash contributions without donce restrictions of 82.140, pledges to be collected in 2004 of 5657, and cash contributions to the endowments of $338. It also collected $824 of Pledges $11.270 $for accrued Receivable that were restricted Collections on Tuition and Fees Receivable totaled $222,640 4. Net deposits returned to students tooled 517. 5. Expenses were incurred for Instruction $ 86.100 Academic support 23,40 Student AVC 37.770 Insonal support 28.550 Related to the expenses incurred prepaid assets of 5637 were used. 54,780 of the expenses were accrued and the remaining expenses were paid. Expenses incurred resulted in the release of $7,390 in 6 The ending balance in Accounts Payable and Accrued Liabilities was $1,985 Investment owning received for the period were $4,050, of which $2.000 was donor restricted for scholarships Adjusting entries for the period were made to increase Allowance for Doubtful Accounts by $15, to record depreciation expense of $26.440 (charged 70 percent to truction and 30 percent to scademic support to adjust tution revenue for an increase in deferred revenue of $12, and to recognize an increase in fair value of investments of $4.760 (5880 was related to investment restricted for scholarships $1.650 was related to the permanent endowment and the remainder was related to asses without donar restrictions) Nominal accounts were closed 1 Reg A1 Reg A2 RegB Regc 35 pont Prepare journal entries to record the foregoing transactions for the year ended June 30, 2023. (If no entry is required for a transaction/event, select No Journal Entry Required in the first account field. Enter your answers in thousands) View transactionist eBook Journal entry worksheet Print Record the adjusting entry for the period to increase aliowance for doubtful accounts Reference Noter Enter debits before credits General Journal Transaction 8(a) Delt 15 Alowance for Doublu accounts 15 Record entry Clear entry View general pour Roq A2 > 1 Req A1 Reg A2 Reg B Regc 35 Dointi Prepare closing entry for the year ended June 30, 2023. (If no entry is required for a transaction/event, select "Mo Journal Entry Required in the first account field. Enter your answers in thousands) View transaction list BOOK Journal entry worksheet C D Record the closure of the nominal accounts. References Debit Credit 2,140 1,940 2.250 Noter Enter debits before credits Transaction General Journal 9) Net Assets. Without Donor Restrictions Contributions Without Donor Restrictions Investment Income-Without Donor Restrictions Unreabzed Gain on Investments-Without Donor Restrictions Tultion and Fees-Without Donor Restrictions Tuition and Fees Discount and Allowances Instruction Expense Academic Support Expense Student Services Expense institutional Support Expense 21,500 122.028 31.272 37.770 Record entry Clear entry View general journal