At the beginning of the year, Southern Valley Health Services, a health and welfare notfor profit entity, had the following Net Assets balances Net Assets Without donor restriction $2,080,000 With donor restriction $460,000 During the year a number of transactions occurred Using a 2 column schedule, show how each of the following transactions would affect the organization's two categories of Net assets Show any reclassification necessary Number each entry on your schedule to match the numbering below and provide a final total Put your answers in order from 1 to 10 Do not net amounts together 1 Received cash gifts without donor restriction of $270,000 2 Paid salaries of $30,000 with $5,000 of that amount coming from restricted funds 3 Equipment is bought for $105,000 by signing a long term note for $65,000 and using funds subject to donor restriction for the remainder 4 Received a contribution without donor restriction of $92,000 It is expected that the entire amount will be collected in three years Present value is $74,000 5 Received a cash gift of $14,000 that must be conveyed to another charity However, the board has the right to choose which other charity ultimately receives the donation 6 Depreciation of $32,000 on the entity's equipment is recorded 7 Interest of $50 and principal of $2,000 is paid on the note previously signed when the equipment was purchased 8 A donor gives an investment worth $180,000 that must be kept invested forever, but any interest or dividends can be used for any legitimate purpose of the entity 9 Collected membership dues of $10,000 The members receive a reasonable amount of value in exchange for these dues including a monthly newsletter describing research activities 10 Investment income of $1,300 is generated from the investment received in item (8) above

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At the beginning of the year, Southern Valley Health Services, a health and welfare notfor profit entity, had the following Net Assets balances  Net Assets  Without donor restriction $2,080,000 With donor restriction $460,000 During the year a number of transactions occurred  Using a 2 column schedule, show how each of the following transactions would affect the organization's two categories of Net assets  Show any reclassification necessary  Number each entry on your schedule to match the numbering below and provide a final total  Put your answers in order from 1 to 10  Do not net amounts together  1  Received cash gifts without donor restriction of $270,000  2  Paid salaries of $30,000 with $5,000 of that amount coming from restricted funds  3  Equipment is bought for $105,000 by signing a long term note for $65,000 and using funds subject to donor restriction for the remainder  4  Received a contribution without donor restriction of $92,000  It is expected that the entire amount will be collected in three years  Present value is $74,000  5  Received a cash gift of $14,000 that must be conveyed to another charity  However, the board has the right to choose which other charity ultimately receives the donation  6  Depreciation of $32,000 on the entity's equipment is recorded  7  Interest of $50 and principal of $2,000 is paid on the note previously signed when the equipment was purchased  8  A donor gives an investment worth $180,000 that must be kept invested forever, but any interest or dividends can be used for any legitimate purpose of the entity  9  Collected membership dues of $10,000  The members receive a reasonable amount of value in exchange for these dues including a monthly newsletter describing research activities  10  Investment income of $1,300 is generated from the investment received in item (8) above

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At the beginning of the year, Southern Valley Health Services, a health and welfare notfor-profit entity, had

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At the beginning of the year, Southern Valley Health Services, a health and welfare notfor-profit entity, had

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