Financial Mangment for Public, Health, and NOt for-profit Organizations 5th edition need solution for chapter 10 problem 18

given for work CHAPTER 394 nd cash Flow statement PART IV Reporting Ri sRS recorded the following financial 8, SRS's employees earned s25,ooo 10-16. ARCH began the year with the following statement of financial position (bal- during the 2018 fiscal year: per month. Employees are balances (shown in alphabetical order in ance sheet), and a statement of cash I. On September 1, sis took with a 1-month lag, SRS also fully flows (using the indirect method). $20o,ooo bank loan paid its prior-year obligations to What do you learn from these state- interest rate of 45% sRS's prior ments, and what questions do they employees. Payments on SRS's leased vehi rate of 6.0%, Annual interest 10-19. Assume you are the manager of a local cles and equipment are due on both loans are due hospital. You begin the year with 150 month in advance. In Fy 20 2. Halfway through the fiscal year. boxes of inventory, each at a cost of lease payments totaled $1o,ooo used the new loan proceeds $1,0oo. Your organization had the fol per month. In FY 2016, they will chase a new set that is expected to last Permanently Restricted Net Assets lowing inventory changes during the rise to $12,ooo per month. o years and have no salvage value. year: You purchased 110 additional 10. On August 31, in addition to make SRS also recorded $5,ooo in Property, Plant, and Equipment, Net boxes in March at a cost of $1,200 each, purchased an additional 230 Restricted Net Assets n its existing equipment SRS repaid the loan policy of recording depreeiat 302,000 prior to FY 2018 in full AS25 ooo boxes in August at a cost of $1,400 Unrestricted Net Assets each, and used 40o boxes during the principal repayment on the loan On the first day of the fiscal year, sRs 3. year. Calculate the value of the ending taken out at the beginning of FY held a membership drive. Each 2-year Record this information and the transac- inventory and the value of the inven 2018 is due on September 1, 2018 tions from Problem 10-15 in a worksheet tory used for the year using both the similar to Exhibit o 7. entitles the member to benefits for 2 FIFO and LIFO methods. ating statement), a comparative 10-17, Use Problems 10-15 and 10-16 to prepare an years. SRS sold and received payment activity statement (operating statement), a for 50 memberships. comparative statement of financial position Review chapter content and explore online resources at study,sagepub.com/finklerse 4. SRS sold $375, ooo in tickets. All ticke (balance sheet), and a statement of cash ets were paid for in cash. flows (using the indirect method) What do 5. SRS received a $100,ooo check fo you learn from these statements, and what foundation grant that was awarded in questions do they raise? the previous fiscal year. At the end of 10-18. The Science Road Show (SRS) is a not 2018, SRS was awarded another for-profit organization that puts on trav- $5oooo foundation grant. Payment eling science demonstrations throughout the state. SRS operates on a September 1-August 31 fiscal year. The organization 6. During the fiscal year, SRS received began Fr 2018 with the following account $60,000 in new donor pledges and also collected 60% of the outstanding pledges from the previous fiscal year Based on past experience, SRS expects that none of the remaining outstanding pledges from the prior fiscal year wil PP&E, Net 7. Throughout 2018, sRs ordered. paid for, and used sis,ooo of program Unrestricted Net Assets booklets. In August, sRs ordered (on account) $5 ooo of programs fiscal 395