Final Project

Review the financial information pertaining to Lee College in problem 11-8 on pages 357 and 358 of your text. Prepare the following:

1. A Statement of Activities using the format presented in Illustration 10-1.
2. A Statement of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets.
3. A Statement of Changes in Net Assets.

Your paper must:

1. Include both the completed financial statements and detailed analysis of the data provided.
2. Explain the process by which you completed the final statements and include any applicable supporting information computations and explanations.
3. Offer an in-depth analysis of the financial health of Lee College.

The Final Project

• Must be five to seven double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in theAshford Writing Center.
• Must include a separate title page with the following:
  • Title of Final Project
  • Student?s name
  • Course name and number
  • Instructor?s name
  • Date submitted
• Must include an introductory paragraph with a succinct thesis statement.
• Must address the topic of the project with critical thought.
• Must conclude with a restatement of the thesis and a conclusion paragraph.

11-8.Presented below are the closing entries for Lee College, a private not-for-profit, for the year ended December 31, 2014. RevenuesUnrestrictedTuition and Fees RevenuesUnrestrictedUnrestricted Income on Endowment Investments RevenuesUnrestrictedSales and Services of Auxiliary Enterprises RevenuesUnrestrictedContributions Reclassifications to Unrestricted Net AssetsSatisfaction of Program Restrictions Reclassifications to Unrestricted Net AssetsSatisfaction of Plant Acquisition Restrictions Net AssetsUnrestricted Tuition DiscountUnrestrictedStudent Aid Instruction Expense Research Expense Public Service Expense Institutional Support Expense Student Services Expense Auxiliary Enterprise Expense RevenuesTemporarily RestrictedContributions RevenuesTemporarily RestrictedGrants Reclassifications From Temporarily Restricted Net AssetsSatisfaction of Program Restricti Reclassifications from Temporarily Restricted Net AssetsSatisfaction of Plant Acquisition Restrictions Net AssetsTemporarily Restricted RevenuesPermanently RestrictedContributions Gains on Long-Term Investments Net AssetsPermanently Restricted Assume the January 1, 2015, net asset balances are as follows: $1,000,000 unrestricted net assets; $300,000 temporarily restricted net assets; and $1,760,000 permanently restricted net assets. a.Prepare a Statement of Activities using the format presented in Illustration 10-2. b.Prepare a Statement of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets together with a Statement of Changes in Net Assets.