For Youth Agency (FYA) is a voluntary health and welfare organization that provides counseling and recreation programs for youthful offenders and delinquents. FYAs programs are financed through a contract with the county in which it is located and through contributions from local citizens. Its contract with the county provides for reimbursement of allowable costs based on monthly billings to the county. FYA uses the accrual basis of accounting, and the following transactions occurred during 2021:

FYA received cash in the amount of $25,000, to be used as the FYA board of directors considers appropriate.

2. FYA received a gift of Intel stock that had a fairmarket value of $1,300 total at the time of the

gift. The donor sent FYAs president a letter with the gift, saying that proceeds of the stock should be used only to purchase athletic equipment for the basketball team. FYA sold the stock upon receipt.

3. FYA paid $800 cash for athletic equipment, using some of the proceeds received in Transaction2. The expense was charged to the Recreation programs account.

4. FYA spent $12,000 cash on the following: $8,000 for counseling programs, $3,000 for recreation programs, and $1,000 for administration.

5. FYA billed the county $6,500 for costs incurred under its contract.

6. A licensed social worker in the area donated 100hours of her time to FYA. Her normal hourly

rate is $50 per hour. The CEO appreciates the donation because otherwise he would have to

purchase the counseling services.

7. FYA borrowed $10,000 from the local bank on an unsecurednote. The whole amount will be

repaid next year.

8. FYA paid the local bank $1,600, of which $400 was interest.

9. FYA recorded $300 of depreciation for the year.

10. FYA prepaid next years rent of $12,000.

11. FYA determined that it will not be able to collect $250 of pledges.

Beginning Balances:

Cash	2000
Contracts Rec	1000
Equipment	2500
Net Assets without Donor Restrictions	6000
Pledges Receivable, Net of Allowance	500

Complete the Balance Sheet, Activity Statement and Statement of Cash Flows, using the indirect method