Hi need help with this long problem.

I need help with figuring out the Statement of financial position, the statement of activities and also statement of cash flows.

I think I have to statement of functional expenses down, need to double check my work.

thanks.

Helping Hand Agency of America, Inc. was incorporated as a nongovernmental not-for-profit voluntary health and welfare organization on July 1, 2008. The adjusted trial balance as of June 30, 2009, is provided below: Debits Cash Pledges Receivable-Unrestricted Estimated Uncollectible Pledges Inventory Pledges Receivable-Temporarily Restricted Investments-Temporarily Restricted Furniture & Equipment-Temporarily Restricted Accumulated Depreciation Accounts Payable Unrestricted Net Assets Temporarily Restricted Net Assets Permanently Restricted Net Assets Contributions-Unrestricted Contributions-Temporarily Restricted Uncollectible Contribution Expense-Temporarily Restricted Investment Income-Temporarily Restricted Salary Expense Fringe Benefits Expense Occupancy Expense Supplies Expense Printing and Publishing Expense Telephone and Utility Expense Postage and Shipping Expense Depreciation Expense TOTALS Credits 24,000 54,000 9,000 1,000 51,000 61,100 3,000 300 1,200 188,100 121,700 9,000 2,100 80,000 5,000 4,800 8,000 15,000 5,200 1,000 300 ------------------322,400 ------------------322,400 GOVERNMENTAL AND NON PROFIT ACCOUNTING-ACC 225 FINAL EXAMINATION QUESTION 1 - 90 POINTS ADDITIONAL INFORMATION 1 Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: public health education, 20%; professional education and training, 30%; community services, 10%; management and general, 15%; and fund raising, 25%. All other expenses were allocated in the following percentages: Public Health Education Professional Education and Training Community Services Management and General Fund Raising 15% 20% 10% 35% 20% 100% 2 Helping Hand Agency received cash during the year from contributors: $126,000 that was unrestricted and $59,000 that was restricted for investment in the plant. $2,100 of income was earned and received on long-term investments. The Agency spent cash on salaries, $70,000; purchase of goods, $29,000; purchase of furniture and equipment, $3,000; and purchase of investments, $59,000. REQUIRED: Prepare a Statement of Financial Position, Statement of Activities, Statement of Cash Flows, and a Statement of Functional Expenses for Helping Hand Agency of America, Inc. as of and for the year ended June 30, 2009. Your client is a nongovernmental nonprofit museum that operates a gift shop. Explain the unrelated business income tax to your client and suggest ways to avoid the tax. NOT FOR PROFIT FINANCIAL STATEMENTS ORDER OF PREPARATION CHECK POINTS 1 FUNCTIONAL EXPENSES B) PROGRAM & MGMT. EXPENSES 2 STATEMENT OF ACTIVITY B) PROGRAM & MGMT. EXPENSES C) NET ASSETS (UNRESTRICTED, TEMP REST., AND PERMANENTLY) D) CHANGE IN NET ASSETS (SURPLUS/(DEFICIT)) A) ENDING CASH C) NET ASSETS (UNRESTRICTED, TEMP REST., AND PERMANENTLY) A) ENDING CASH D) RECONCILIATION OF CHANGE IN NET ASSETS E) CASH FLOW OPERATING ACTIVITIES 3 FINANCIAL POSITION 4 CASH FLOW STATEMENT Table 1 Children's Counselling center Statement of Financial position June 30, 2009 Asset Liabilities and net assets cash 24000 accounts payable pledge receivables ($54000 less uncollectible pledges of $9000) 45000 inventory 1200 1000 investments (at fair value) 61100 net assets: Unrestricted 67000 2700 temporarily restricted Furniture and equipment, (3000 net of accumulated Depreciation of 300 63200 permanently restricted 2400 total net assets total assets 132600 133800 total liabilities and net assets 133800 Statement of functional expenses Year ended June 30, 2009 Program Services Public Health Educaiton (15%) Salaries Expenses Professtional Training (20%) Community Services (10%) Supporting Services Mgmt and General Fund Raising (20%) Total (35%) Total Total 12000 16000 8000 36000 28000 16000 44000 80000 Fringe Expenses 750 1000 500 2250 1750 1000 2750 5000 Occupancy and Utility 720 960 480 2160 1680 960 2640 4800 Supplies 1200 1600 800 3600 2800 1600 4400 8000 Printing and Publishing 2250 3000 1500 6750 5250 3000 8250 15000 780 1040 520 2340 1820 1040 2860 5200 Telephone and postage Unrealized Loss 0 0 0 0 0 0 0 60 30 135 105 60 165 300 17745 Total Expenses 0 45 Deperciation 23660 11830 53235 41405 23660 65065 118300 Statement of Activities Year ended June 30, 2009 Unrestricted Revenues gains and other support Contributions Investment income Temporarily restricted net assets released from restrictions Total revenues, gains and other support Expenses and Losses Program Services Public Health Education Professional Training Community Service Total program expenses Support Expenses Mangement and general Fund raising Total Support expenses Total expenses and losses change in net asset Net assets July, 2010 net assets June 20, 2011 Children's Counselling center Statements of Cash Flows Year End June 30, 2009 Cash Flows from Operating Activities Cash received from controbutors Cash received as investment invome cash paid to employees cash paid for operating expenses Net cash provided by operating activities Cash flows from Investing activities Purchase of furniture and equipment cash flows from financing activities Proceeds from contributions restricted for: Investment in capitl assets increase in cash cash, july 1, 2008 cash, june 30, 2009 reconciliation of changes in net assets to net cash used for operating activities: change in net assets adjustment to reconcile change in net assets to net cash provided by operating activities: deperciation unrelaized loss in investments increase in net pledges receivables increase in inventory decrease in accounts payable cash provided by operating activities temporarily restricted permanently restricted Total 2011