Exercise 10-13 (Algo) The Ombudsman Foundation is a private not-for-profit organization providing training in dispute resolution and conflict management. The Foundation had the following preclosing trial balance at December 31, 2020, the end of its fiscal year: Trial Balance-December 31, 2020 Accounts payable Accounts receivable (net). Debits Credits $ 23,700 $ Accrued interest receivable Accumulated depreciation Cash Contributed services Contributions-no restrictions 47,600 16,700 3,270,500 111,000 26,700 2,492,000 Contributions-purpose restrictions 802,000 Contributions-endowment 2,392,700 Current pledges receivable 76,000 Education program expenses 1,549,100 Fund-raising expenses 117,000 Investment revenue-purpose restrictions 87,000 Training seminars expenses 4,584,400 Land, buildings, and equipment 5,657,500 Long-term investments Management and general expenses Net assets without donor restrictions Net assets with donor restrictions Net gains on endowments no restrictions Noncurrent pledges receivable Program service revenue no restrictions 2,765,300 403,600 448,000 2,042,000 17,500 390,200 Post-employment benefits payable (long-term) Reclassification-Satisfaction of program 5,978,100 200,900 267,400 restrictions Reclassification-Satisfaction of time restrictions Reclassification-Satisfaction of program 215,600 267,400 restrictions Reclassification-Satisfaction of time restrictions 215,600 Research program expenses 1,278,700 Short-term investments 751,600 Supplies inventory 32,400 Totals $18,264,100 $18,264,100