Help needed for the FS exercise

Boys and Girls Clubs of GNP County adopted ASU 2014-16 (the new nonprofit reporting model) for FY 2019 and elected to prepare its statement of cash flows using the indirect method. Of the contributions with donor restrictions, $500,000 was an endowment gift received in cash and then was subsequently invested in equity securities. In addition to investments made after the gift described in 2., $30,000 of cash was invested in equity securities during FY 2019. Realized gains on investments were $47,500 for FY 2019. The net book value of assets sold in FY 2019 was $156,365. Principal payments on notes payable during the year totaled $25,000.

1. Create a T-account for Property and equipment, net; Investments and endowment investments; Notes payable; Gains/losses (both realized and unrealized related to investments AND gain/loss on the sale of equipment)

2. Create a statement of cash flows

BOYS & GIRLS CLUBS OF GNP COUNTY STATEMENTS OF FINANCIAL POSITION As of June 30, 2019 and 2018 ASSETS 2019 2018 $ $ 1.264,143 6,323,091 1,095,886 7,585,124 CURRENT ASSETS Cash and cash cquivalents Investments Accounts receivable: Unconditional promises to give Reimbursable government project expenditures Other receivables Prepaids and other assets Total Current Assets 1,325,809 987,652 8,902 107,696 10,017,293 1,250,378 1,089,204 12,314 97,611 11,130,517 PROPERTY AND EQUIPMENT 6,001,552 5,959,064 OTHIER ASSETS Investments endowment Total Other Assets 7,802,053 7,802,053 7,202,053 7,202,053 TOTAL ASSETS $ 23,820,898 $ 24,291,634 $ LIABILITIES AND NET ASSETS Line of credit $ 1,300,000 Accounts payable and accrued expenses 1,227,447 Deferred revenue 321,623 Total Current Liabilities 2,849,070 2,000,000 1.246,068 392,869 3,638,937 LONG-TERM LIABILITIES Notes payable 545,000 465,000 Total Liabilities 3,394,070 4,103,937 NET ASSETS Without donor restrictions With donor restrictions Total Net Assets 991,612 19,435,216 20,426,828 1,178,965 19,008,732 20,187,697 TOTAL LIABILITIES AND NET ASSETS $ 23,820,898 $ 24,291,634 Tants from governmental agencies 2.941.689 2.941,689 3,246,938 3.246.938 evenue Membership dues Program service fees Investment income Other Total revenue Total Operating Public Support and Revenue 42,500 233,430 254,048 230,645 760,623 42,500 233,430 254,048 230,645 760,623 49,180 258,933 105,595 232,897 646,605 49,180 258,933 105,595 232,897 646,605 11,413,163 426,484 11,839,647 9,422,690 2,380,000 11,802,690 RATING EXPENSES cogram services Ianagement and general indraising Total Operating Expenses 8,524,931 1,575,383 1,424,316 11,524,630 8,524,931 1,575,383 1,424,316 11,524,630 8,551,861 1,352,830 1,302,311 11,207,002 8,551,861 1,352,830 1,302,311 11,207,002 661,214 661,214 --OPERATING ACTIVITIES Gains/losses on investments Gains/losses on sale of equipment Total Non-Operating Activities hange in net assets et assets at beginning of year 26,500 (102,386) (75,886) (187,353) 1,178,965 26,500 (102,386) (75.886) 239,131 20,187,697 426.484 19.008,732 661,214 (1,123,098) 2,302,063 2.380.000 16.628,732 661,214 1,256,902 18,930,795 NET ASSETS AT END OF YEAR $ 991,612 S 19,435,216 $ 20,426,828 $ 1,178,965 $ 19,008,732 $ 20,187,697 BOYS & GIRLS CLUBS OF GNP COUNTY STATEMENTS OF FINANCIAL POSITION As of June 30, 2019 and 2018 ASSETS 2019 2018 $ $ 1.264,143 6,323,091 1,095,886 7,585,124 CURRENT ASSETS Cash and cash cquivalents Investments Accounts receivable: Unconditional promises to give Reimbursable government project expenditures Other receivables Prepaids and other assets Total Current Assets 1,325,809 987,652 8,902 107,696 10,017,293 1,250,378 1,089,204 12,314 97,611 11,130,517 PROPERTY AND EQUIPMENT 6,001,552 5,959,064 OTHIER ASSETS Investments endowment Total Other Assets 7,802,053 7,802,053 7,202,053 7,202,053 TOTAL ASSETS $ 23,820,898 $ 24,291,634 $ LIABILITIES AND NET ASSETS Line of credit $ 1,300,000 Accounts payable and accrued expenses 1,227,447 Deferred revenue 321,623 Total Current Liabilities 2,849,070 2,000,000 1.246,068 392,869 3,638,937 LONG-TERM LIABILITIES Notes payable 545,000 465,000 Total Liabilities 3,394,070 4,103,937 NET ASSETS Without donor restrictions With donor restrictions Total Net Assets 991,612 19,435,216 20,426,828 1,178,965 19,008,732 20,187,697 TOTAL LIABILITIES AND NET ASSETS $ 23,820,898 $ 24,291,634 Tants from governmental agencies 2.941.689 2.941,689 3,246,938 3.246.938 evenue Membership dues Program service fees Investment income Other Total revenue Total Operating Public Support and Revenue 42,500 233,430 254,048 230,645 760,623 42,500 233,430 254,048 230,645 760,623 49,180 258,933 105,595 232,897 646,605 49,180 258,933 105,595 232,897 646,605 11,413,163 426,484 11,839,647 9,422,690 2,380,000 11,802,690 RATING EXPENSES cogram services Ianagement and general indraising Total Operating Expenses 8,524,931 1,575,383 1,424,316 11,524,630 8,524,931 1,575,383 1,424,316 11,524,630 8,551,861 1,352,830 1,302,311 11,207,002 8,551,861 1,352,830 1,302,311 11,207,002 661,214 661,214 --OPERATING ACTIVITIES Gains/losses on investments Gains/losses on sale of equipment Total Non-Operating Activities hange in net assets et assets at beginning of year 26,500 (102,386) (75,886) (187,353) 1,178,965 26,500 (102,386) (75.886) 239,131 20,187,697 426.484 19.008,732 661,214 (1,123,098) 2,302,063 2.380.000 16.628,732 661,214 1,256,902 18,930,795 NET ASSETS AT END OF YEAR $ 991,612 S 19,435,216 $ 20,426,828 $ 1,178,965 $ 19,008,732 $ 20,187,697