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Financial Alanagement Homework # ] Forever Friends Rescue 1 . Forever Friends Rescue is a not - for - profit rescue shelter dedicated to helping

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Financial Alanagement Homework # ] Forever Friends Rescue 1 . Forever Friends Rescue is a not - for - profit rescue shelter dedicated to helping rehabilitate* and find homes for previously neglected dogs . The organization Ended FY 2014 On December 31 , 2014 with the following account balances ( in alphabetical order ] ." Accounts Parable* 11, 250 Cash 15, 000 Contracts Receivable EquiDITIENT 125, 000 Inventory 3,000 Net Assets 95, 250 Notes Payable* 50, 000 Pledges Receivable 8.500 a ) LI'sE the information above to fill in the beginning balances on the transactions* Worksheet bij On the balance sheet , fill in the FY 2014 column by linking to the beginning balances on the transactions worksheet [ ] On the transactions worksheet , record the following financial events , which Forever Friends Rescue Experienced during FT 2015, as appropriate ." 1 ) On the first day of the fiscal year , Forever Friends Rescue borrowed $ 12, 000 from a bank . 1] ] The organization then used the loan to purchase 512,ODD in new veterinary EQUIPITIENT ill ] The organization received a $5, 500 contract payment from the city for SERVICES delivered in the previous fiscal year . The organization anticipates receiving the remaining amount due next fiscal year .* ivy Forever Friends Rescue collected 90%6 of outstanding pledges earned in the previous fiscal year . The organization anticipates collecting the remaining 10% next fiscal Year . V ) " The organization ordered and received $5,000 worth of supplies, as well as an invoice from the supplier .* vi ] The organization Sent its suppliers a check for $3, 000. vil] On the last day of the fiscal year , Forever Friends Rescue Signed a contract to purchase an additional 53,000 in veterinary Equipment . $ ) Calculate the ending balances and then fill in the FY 2015 column of the balance sheet by linking to the ending balances on the transactions Worksheet

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