I can't figure out what I am doing wrong. I have balanced all of my accounts and allocated my funds, but my answers still seem to be wrong for almost all of the questions. Any help is greatly appreciated.

Community Child Care Center, Inc. Working Trial Balance June 30, 2015 Cash Pledges Receivable - Unrestricted Pledges Receivable - Temporarily Restricted Estimated Uncollectible Pledges Inventory Investments Buildings Furniture and Equipment Accumulated Depreciation Other Assets - Deposits Unadjusted Balance Debit Credit 95,000 50,000 75,000 10,000 8,000 150,000 1,000,000 150,000 630,000 Accounts Payable Deferred Revenues Unrestricted Net Assets Temporarily Restricted Net Assets Permanently Restricted Net Assets Contributions - Unrestricted Contributions - Temporarily Restricted Fees for Services - After School Fees for Services - Preschool Fees for Services - Preschool Daycare Fees for Services - Parent Training Classes Investment Income - Unrestricted Net Assets Released from Restrictions Temporarily Restricted Unrestricted Salaries and Fringe Benefits Occupancy and Utility Expense Program Supplies Expense Printing and Publishing Expense Contract Computer Services Unrealized Loss on Investments Depreciation Expense Prepaid Expenses Adjustment to FV (Investments) Administration Expense Executive Expense Fundraising Expenses Afer School Services Expense Preschool Services Expense Preschool Daycare Services Expense Parent Training Classes Services Expense Totals 1b. Accumulated Depreciation Depreciation Expense (to correct depreciation accounts for the year) 5,000 2,000 2,000 70,000 34,500 4,500 100,000 470,000 155,000 150,000 45,000 234,500 552,500 60,000 475,000 8,000 6,000 30,000 30,000 70,000 45,000 234,500 552,500 60,000 475,000 8,000 6,000 100,000 100,000 980,000 175,000 60,000 42,000 25,000 3,000 53,000 1,000 2,000 15,000 2,000 1,000 15,000 5,000 2,966,000 100,000 100,000 980,000 174,000 60,000 40,000 25,000 12,000 89,500 12,000 51,000 1,000 15,000 51,000 1,000 15,000 224,550 231,500 37,700 295,314 240,221 277,685 28,029 224,550 231,500 32,700 295,314 240,221 277,685 28,029 5,000 89,500 100,000 980,000 174,000 60,000 40,000 25,000 2,981,000 2,981,000 Printing & Publishing Expense 1,330,000 1,330,000 2,981,000 2,981,000 $40,000 24,000 16,000 25,000 12,500 2,500 10,000 Revenues 552,500 60,000 475,000 8,000 1,095,500 % of Total 50% 5% 43% 1% 100% Child Care Program Cost Allocation Square Ft. % of Expense 1,500 15% 2,500 25% 2,500 25% 1,000 10% Allocation of $174,000 $ 26,100 $ 43,500 $ 43,500 $ 17,400 Reclassifications 1e. 1,000 1,000 Fundraising Expenses - 60% Administration Expenses - 2,000 1f. Computer Services % Center's child care programs 50% Center's donor data base 10% Unrestricted Net Assets 2,000 Administrative function 40% Temporarily Restricted Net Assets 2,000 Programs (to correct over depreciation of net assets) After School Service Fees Preschool Service Fees 1c. Preschool Daycare Service Fees no entry Parent Training Classes Fees (amount is already included in inventory account and will not be used till September, 1 20 Total 1d. Fee for Services - Daycare 4,500 Contributions - Temporarily Restricted (program) (to account for unearned daycare services for July 1, 2015)) 1e. Reclassifications Debit Credit 470,000 155,000 150,000 30,000 75,000 200,000 552,500 60,000 479,500 8,000 6,000 2,966,000 Adjusted and Reclassified Balance Debit Credit 95,000 50,000 75,000 15,000 10,000 150,000 1,000,000 150,000 628,000 70,000 500,000 125,000 150,000 Journal Entries 1a. Prepaid Expenses Occupancy & Utility Expense (to record 3 year lease of a new copier) Adjustments Debit Credit Adjusted Balance Debit Credit 95,000 50,000 75,000 15,000 10,000 150,000 1,000,000 150,000 628,000 2,000 $ $ $ $ $ 6,304 685 5,420 91 12,500 3 4,500 Occupancy & Utility Expense After School Care Services Expenses Preschool Expenses Preschool Daycare Expenses Parent Training Classes Expenses Occupancy & Utility Depreciation Expense Square Ft. % of Expense After School Care Services Expenses Preschool Expenses Preschool Daycare Expenses Parent Training Classes Expenses 1,500 2,500 2,500 1,000 15% 25% 25% 10% Allocation of $51,000 $ 7,650 $ 12,750 $ 12,750 $ 5,100 Inventory 2,000 Printing and publishing expense 2,000 (to adjust operating and payroll check printing received June 29, 2015 yet be used) Administration Expenses Executive Expenses Total 1f. No Entry (this is a reclassification entry) 4 1g. Contributions - Unrestricted 30,000 Contributions - Temporarily Restricted 30,000 (to reclass temporarily restricted revenue out of unrestricted revenue from March 1, 2015) Program Supplies Expense After School Service Fees Preschool Service Fees Preschool Daycare Service Fees Parent Training Classes Fees Total 1,500 1,000 10,000 Revenues 552,500 60,000 475,000 8,000 1,095,500 15% $ 10% $ 100% $ % of Total 50% 5% 43% 1% 100% 26,100 17,400 174,000 Administration Expenses Executive Expenses Total Allocation of $60,000 $ 30,260 $ 3,286 $ 26,016 $ 438 $ 60,000 5 Unrestricted Net Assets Temporarily Restricted Net Assets 30,000 1h. Adjustment to FV (Investments) 15,000 Unrealized gain on investments (to record a gain from increase of FV of unrestricted net assets) 30,000 15,000 Salaries & Fringe Benefits Expense After School Care Services Expenses Preschool Expenses Preschool Daycare Expenses Parent Training Classes Expenses Administration Expenses Administration Expenses Executive Expenses Executive Expenses % of program Type 100% program 100% program 100% program 100% program 98% program 2% fundraising 95% program 5% fundraising Allocation of $980,000 $ 225,000 $ 180,000 $ 190,000 $ 5,000 $ 156,800 $ 3,200 $ 209,000 $ 11,000 2 Expenses Summary Fundraising Expense 5,000 Estimated Uncollectible Pledges 5,000 After School Care Services Expenses (to record a loss of contribution pledge deemed uncollectible from donor by bankruptcy) Preschool Expenses Preschool Daycare Expenses 3 Parent Training Classes Expenses No Entry Administration Expenses (this is a reclassification entry) Executive Expenses 4 Fundraising Expenses No Entry Total (this is a reclassification entry) 5 No Entry (this is a reclassification entry) Computer Occupancy Services & Utility Exp. Exp. 6,304 26,100 685 43,500 5,420 43,500 91 17,400 10,000 26,100 17,400 2,500 25,000 174,000 Program Printing & Salaries & Depreciation Supplies Publishing Fringe Exp. Exp. Exp. Exp. 30,260 225,000 7,650 3,286 180,000 12,750 26,016 190,000 12,750 438 5,000 5,100 156,800 24,000 7,650 209,000 5,100 14,200 16,000 60,000 980,000 40,000 51,000 Total 295,314 240,221 277,685 28,029 224,550 231,500 32,700 1,330,000 1,500 1,000 10,000 15% $ 10% $ 100% $ 7,650 5,100 51,000 ACG 3501 Not-for-Profit Activity The purpose of this project is to reinforce the financial accounting and reporting concepts applicable to not-for-profit organizations. This assignment will allow students an opportunity to use critical thinking skills to evaluate and then record a number of typical transactions, adjustments, and reclassifications encountered by not-for-profit organizations1. Use an Excel spreadsheet to prepare a working trial balance to summarize the unadjusted amounts, adjustments, and final balance amounts (see additional instructions below). All journal entries posted to the trial balance are to be listed below the trial balance, adequately described, and all supporting calculations shown below the applicable journal entry. Organizing the information in this manner will allow you to answer the questions noted under the \"Quizzes\" tab for \"Not-for-Profit Activity\". You will be able to complete your work much more efficiently if you thoroughly review the questions you are required to answer before attempting to analyze the following information. Submission of your Excel spreadsheet is a required part of this assignment and is worth 50 points. The remaining 75 points for this assignment are related to the questions (located under the \"Quizzes\" tab) that you will need to answer using your completed adjusted trial balance and the background information provided here. In order to receive the 50 points for your spreadsheet, you will need to attach it and then submit it via the \"Assignments\" tab in Webcourses. 1 Adjustments normally affect both a balance sheet and operating statement account while reclassifications affect only one type of account within one statement. For example, classifying the current portion of notes payable would be a reclassification entry while adjusting the amount of notes payable for errors in applying payments would be an adjusting entry. 1 Guidelines for the preparation of your Excel spreadsheet are as follows: Use only one \"sheet\" for your work. Your name and ACG 3501 section number should appear at the top of the spreadsheet. Order your journal entries in the same order as the background information is presented. Indicate the question number(s) from the \"quiz\" on your spreadsheet next to the related amount or work. Prepare any adjustments needed based on the situations noted below. Journal entries should be in good form (i.e. balanced, debit and credit amounts clearly delineated, no abbreviations, brief description of the entry, etc.). Post any adjusting entries to the trial balance and extend the adjusted amounts. In cases where multiple entries are necessary for the same account, you must clearly indicate somewhere in this assignment 2 the detail amounts comprising the total amount(s) indicated on the trial balance. Prepare year end reclassification entries based on the situations noted. Entries should be in good form (i.e. balanced, debit and credit amounts clearly delineated, no abbreviations, brief description of the entry, etc.). Post any reclassifying entries to the trial balance and extend the reclassified amounts. In cases where multiple entries are necessary for the same account, you must clearly indicate somewhere in this assignment 1 the detail amounts comprising any aggregated amount indicated on the trial balance. Clearly label all columns and rows and show ALL of your work. Please avoid using abbreviations that are not generally accepted in the accounting vernacular. Enable the spreadsheet to allow the instructor to view the formulae used in each cell. Use commas for all numbers but do not use decimals or places (i.e. one thousand ten dollars and 20 cents should show as 1,010 not $1,010.20). The information on your spreadsheet will be critical to your ultimate success on this activity. In addition, the spreadsheet information will be used to determine if any partial credit should be awarded for questions that are missed on the \"quiz\". Therefore it is very important that you make the information on your spreadsheet easy for someone not familiar with how your brain thinks to follow the work and easily find your answers. 2 You may use additional lines on the trial balance, summations on supporting worksheets, etc. 2 Background Information 1. Review each of the following items that were noted by the CFO after the unadjusted trial balance was prepared and make adjusting and reclassifying entries as necessary. Do not assume that all items listed require adjustments or reclassifications. a. $1,000 was charged to occupancy and utility expense that represented a rental deposit for a three-year operating lease of a new copier. b. Depreciation expense recorded for the year was incorrect. The correct amount of depreciation should have been $51,000. c. Ending inventory included $3,000 for brochures related to the planned giving campaign scheduled to begin September 1, 2015. d. Service Fees - Daycare included $4,500 related to childcare services for the week beginning July 1, 2015. e. Printing and publishing expense included $2,000 for check stock (i.e. special watermarked paper for printing operating and payroll checks) that was received June 29, 2015. A review of all charges to this account indicated 60% of the charges related to Fundraising function and the remaining 40% were related to the Administrative function. f. A review of all charges to Contract Computer Services indicated 50% of the charges related to the Center's child care programs, 10% related to maintaining the Center's donor data base, and the remaining 40% related to the Administrative function. g. Unrestricted contributions revenue included $30,000 that, based on a letter dated March 1, 2015 from the donor, is to be used for a new after school reading program. The after school care program director plans to begin this new program with the start of the new school year in August of 2015. h. The fair value of unrestricted investments increased $15,000. 2. Two weeks after fiscal year end, a major donor with an outstanding unrestricted pledge of $5,000 filed for Chapter 7 bankruptcy. Remember that all bad debt write offs for uncollectible pledges are considered fundraising expenses. 3. Occupancy and related costs are charged to functions based on the relative square footage used for each program/function. Building space is utilized as follows: After school care services 1,500 square feet Preschool 2,500 square feet Preschool daycare 2,500 square feet Parent training classes 1,000 square feet Administration 1,500 square feet Executive 1,000 square feet 4. All program related expenses, unless otherwise noted, are incurred by each program in proportion to the related program revenues. 5. Following is a list of salaries and fringe benefits incurred by programs and functions. The CFO studied time records and talked to employees to determine how employees spent their time. After school care services 12 staff 100% program $ 225,000 Preschool 2 staff 100% program 180,000 Preschool daycare 8 staff 100% program 190,000 Parent training classes 1 staff 100% program 5,000 Administration 3 staff 2% fundraising 160,000 Executive 2 staff 5% fundraising 220,000 3 Not-for-Prot Activity: ACG3501_CMB-15Fall https://webcourses.ucf.edu/courses/1136525/quizzes/1315051 Not-for-Profit Activity Due Sep 29 at 8am Allowed Attempts 5 Points 75 Questions 20 Available Sep 1 at 5pm - Sep 29 at 8am 28 days Time Limit None Instructions This activity is to be completed using the background information provided under the "Assignments" tab for "Not-for-Profit Activity". You will be able to access this activity FIVE times prior to the due date of the assignment. Students that successfully complete this activity in the least amount of time complete the entire Excel spreadsheet FIRST. ALL of the answers for the questions that accompany this activity can be derived from an accurate and complete trial balance and using Excel first makes this extremely easy. Please round all answers calculated on your Excel spreadsheet to the nearest dollar. Insert those rounded dollar amounts in your quiz answers here. Please answer all questions requiring a dollar amount as the answer using NO dollar signs, NO decimals, and NO pennies. DO USE commas if appropriate in your answers. For example, if the answer on your Excel spreadsheet is $1,500.35, you would round that to $1,500 and insert 1,500 in the answer space for the appropriate quiz question. When a question asks for the change in a balance or account, you must indicate whether that change is an increase or decrease. The words "increase" or "decrease" should be placed one space after the related amount and in lower case. Take the Quiz Again Attempt History Attempt Time Score KEPT Attempt 2 2 minutes 20 out of 75 LATEST Attempt 2 2 minutes 20 out of 75 Attempt 1 13 minutes 6 out of 75 Correct answers are hidden. Score for this attempt: 20 out of 75 Submitted Sep 19 at 11:36pm This attempt took 2 minutes. Question 1 3 / 3 pts What is the adjusted and reclassified amount of Salaries & Fringe Benefits expense at 6/30/15? 0 Question 2 4 / 4 pts What is the amount of adjusted and reclassified functional expenses for the After School Care program at 6/30/15? 295,314 Incorrect Question 3 0 / 4 pts What is the adjusted and reclassified balance in total net Pledges Receivable at 6/30/15? 1 of 4 9/20/15, 12:13 AM Not-for-Prot Activity: ACG3501_CMB-15Fall https://webcourses.ucf.edu/courses/1136525/quizzes/1315051 210,000 Incorrect Question 4 0 / 4 pts What is the adjusted and reclassified balance in Inventory at 6/30/15? 10,000 Incorrect Question 5 0 / 4 pts What is the amount of adjusted and reclassified functional expenses for Fundraising at 6/30/15? 37,700 Incorrect Question 6 0 / 4 pts What is the adjusted and reclassified net book value of all property, plant, and equipment at 6/30/15? 520,000 Incorrect Question 7 0 / 4 pts What is the adjusted and reclassified amount of total current liabilities at 6/30/15? 70,000 Question 8 4 / 4 pts What is the amount of adjusted and reclassified functional expenses for the Preschool program at 6/30/15? 240,221 Question 9 3 / 3 pts What is the adjusted and reclassified amount of Occupancy & Utility expense at 6/30/15? 2 of 4 9/20/15, 12:13 AM Not-for-Prot Activity: ACG3501_CMB-15Fall https://webcourses.ucf.edu/courses/1136525/quizzes/1315051 0 Incorrect Question 10 0 / 4 pts What is the adjusted and reclassified amount of support at 6/30/15? 493,750 Incorrect Question 11 0 / 4 pts What is the adjusted and reclassified amount of total revenues at 6/30/15? 1,375,000 Incorrect Question 12 0 / 3 pts What is the adjusted and reclassified amount of total expenses at 6/30/15? 1,351,000 Question 13 3 / 3 pts What is the adjusted and reclassified amount of total expenses charged to Temporarily Restricted Net Assets for the year ended 6/30/15? 0 Incorrect Question 14 0 / 3 pts What is the balance in Temporarily Restricted Net Assets at 6/30/15? 155,000 Incorrect Question 15 0 / 5 pts What is the change in total Net Assets for the year ended 6/30/15? 3 of 4 9/20/15, 12:13 AM Not-for-Prot Activity: ACG3501_CMB-15Fall https://webcourses.ucf.edu/courses/1136525/quizzes/1315051 0 Incorrect Question 16 0 / 4 pts What is the amount of adjusted and reclassified functional expenses for Administration at 6/30/15? 224,550 Question 17 3 / 3 pts What is the balance in Permanently Restricted Net Assets at 6/30/15? 150,000 Incorrect Question 18 0 / 4 pts What is the adjusted and reclassified amount of total revenues and other support at 6/30/15? 1,381,000 Incorrect Question 19 0 / 3 pts What is the adjusted and reclassified balance in Unrestricted Net Assets at 6/30/15? 470,000 Incorrect Question 20 0 / 5 pts What is the adjusted and reclassified change in Unrestricted Net Assets at 6/30/15? 30,000 decrease Quiz Score: 20 out of 75 4 of 4 9/20/15, 12:13 AM Community Child Care Center, Inc. Working Trial Balance June 30, 2015 Cash Pledges Receivable - Unrestricted Pledges Receivable - Temporarily Restricted Estimated Uncollectible Pledges Inventory Investments Buildings Furniture and Equipment Accumulated Depreciation Other Assets - Deposits Unadjusted Balance Debit Credit 95,000 50,000 75,000 10,000 8,000 150,000 1,000,000 150,000 630,000 Accounts Payable Deferred Revenues Unrestricted Net Assets Temporarily Restricted Net Assets Permanently Restricted Net Assets Contributions - Unrestricted Contributions - Temporarily Restricted Fees for Services - After School Fees for Services - Preschool Fees for Services - Preschool Daycare Fees for Services - Parent Training Classes Investment Income - Unrestricted Net Assets Released from Restrictions Temporarily Restricted Unrestricted Salaries and Fringe Benefits Occupancy and Utility Expense Program Supplies Expense Printing and Publishing Expense Contract Computer Services Unrealized Loss on Investments Depreciation Expense Totals 70,000 500,000 125,000 150,000 75,000 200,000 552,500 60,000 479,500 8,000 6,000 100,000 100,000 980,000 175,000 60,000 42,000 25,000 3,000 53,000 2,966,000 2,966,000 Adjustments Debit Credit Adjusted Balance Debit Credit Reclassifications Debit Credit Adjusted and Reclassified Balance Debit Credit