Question
Hi, can I please get an answer key to this? Here are the transactions that have occurred in 2015: I) Equipment was bought for with
Hi, can I please get an answer key to this?
Here are the transactions that have occurred in 2015: I) Equipment was bought for with cash (rum the General fund 2) The organization invested $5,000 from the endowment fund cash into marketable securities 3) The capital grant receivable was received in full .TheS1.OOO in Accounts 4) S) 6) 7) 8) 9) payable was paid in full. Given the popularity ofthe program. the organizauon bought another buildzng to hold its after-school sessions for $50,000. YMCMBO paid up-front with the remainder to be p,nd in 2C16. During the year. $15,000 of expense was incurred. of these expenses related to the afterschool program and the remainder to the weekend program. None of these expenses were paid in 20 IS. Of the accounts payables, wages payable and accrued liabilities of the general funds that were outstanding at the beginning of the year were p,nd durang the 2015-year. 100% of the general rund pledge and grants receivable from the beginning of the 2015-year were received. Annual depreciation on the buildings and equipment amounted to $60,000 In October 2015. YMCMUO organized a fundraiser to support their operations of the 2015-year. Pledges of $40,000 were received and cash of $30,000 was collected. It is expected that of these pledges wili be uncollectible. The investment in the endowment fund earned SS.OOO uf interest during the year. Thc local school board contributed S 10,000 to the endowment tund of the organization. chow a) Prepare the journal entries for YMCMBO Ior tite 2015 year b) Prepare thc Statement ofOperations, the Statement oi Financial Position. and the Statement ofChanges in Fund Balances for the 2015 year.
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