Question
I JUST NEED HELP WITH PART B AND C.PLEASE MAKE A CHART EXACTLY HOW MINES IS SET UP. ITS DIFFICULT YO UNDERSTAND WHEN YOU CHANGE
I JUST NEED HELP WITH PART B AND C.PLEASE MAKE A CHART EXACTLY HOW MINES IS SET UP. ITS DIFFICULT YO UNDERSTAND WHEN YOU CHANGE THE TITLE OF THE PARTICULARS IN YOUR OWN CHART. IF YOU HAVE TO HANDWRITTEN IT DO SO BUT EXACTLY WORD FOR WORD HOW CHART B AND C IS SET UP. JUST FILL IN THE CHART WHERE YOU SEE MISSING SECTION OR CORRECT MY ANSWERS. I ALSO BOLD A SECTION IN PART C WHERE PARTICLARS NEED TO BE FILLED IN. PLEAE HELP!!!!! I KEEP SENDING OUT THIS QUESTION AND NOT GETTING WHAT IM ASKING FOR. IM WASTING MY QUESTION.
The Ombudsman Foundation is a private not-for-profit organization providing training in dispute resolution and conflict management. The Foundation had the following preclosing trial balance at December 31, 2020, the end of its fiscal year:
Trial BalanceDecember 31, 2020 | Debits | Credits | ||||
Accounts payable | $ | 25,400 | ||||
Accounts receivable (net) | $ | 47,200 | ||||
Accrued interest receivable | 16,700 | |||||
Accumulated depreciation | 3,512,200 | |||||
Cash | 118,400 | |||||
Contributed services | 26,500 | |||||
Contributionsno restrictions | 2,446,000 | |||||
Contributionspurpose restrictions | 796,000 | |||||
Contributionsendowment | 2,057,500 | |||||
Current pledges receivable | 81,800 | |||||
Education program expenses | 1,537,100 | |||||
Fund-raising expenses | 126,100 | |||||
Investment revenuepurpose restrictions | 93,700 | |||||
Training seminars expenses | 4,548,100 | |||||
Land, buildings, and equipment | 5,612,700 | |||||
Long-term investments | 2,743,400 | |||||
Management and general expenses | 402,600 | |||||
Net assets without donor restrictions | 496,400 | |||||
Net assets with donor restrictions | 2,041,000 | |||||
Net gains on endowments - no restrictions | 18,700 | |||||
Noncurrent pledges receivable | 390,200 | |||||
Program service revenue - no restrictions | 5,978,100 | |||||
Post-employment benefits payable (long-term) | 200,900 | |||||
ReclassificationSatisfaction of program restrictions | 267,400 | |||||
ReclassificationSatisfaction of time restrictions | 215,600 | |||||
ReclassificationSatisfaction of program restrictions | 267,400 | |||||
ReclassificationSatisfaction of time restrictions | 215,600 | |||||
Research program expenses | 1,282,700 | |||||
Short-term investments | 751,400 | |||||
Supplies inventory | 34,000 | |||||
Totals | $ | 18,175,400 | $ | 18,175,400 | ||
a.Prepare closing entries for the year-end, using separate entries for each net asset classification. b. Prepare a Statement of Activities for the year ended December 31, 2020. c. Prepare a Statement of Financial Position as of December 31, 2020
Prepare a Statement of Activities for the year ended December 31, 2020. (Amounts to be deducted should be indicated by a minus sign.)
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Prepare a Statement of Financial Position as of December 31, 2020.
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