I need help with question 10-17, which can be found on page 40 of the pdf document. I have been trying to figure it out for two days but just can't seem to get it right.

9-25 CONCERN FOR ANIMAL SHELTER AND HABITATS (C.A.S.H.) TRANSACTIONS = Assets Cash Beginning Balance Transaction 1 $0 Accounts Inventory Receivable $0 $0 Prepaid Insurance $0 Plant & Equipment $0 Liabilities and Net Assets Accounts Payable $0 50,000 Liabilities Notes Wages Payable Payable $0 Mortgage Payable Net Assets Temporarily Permanantly Unrestricted Restricted Restricted $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 50,000 Transaction 2 Transaction 3 1,750 1,750 Transaction 4 (5,000) 5,000 Transaction 5 (5,000) 10,000 5,000 Ending Balance $40,000 $15,000 $6,750 $0 $1,750 $0 $50,000 9-26 CONCERN FOR ANIMAL SHELTER AND HABITATS (C.A.S.H.) Statement of Financial Position As of December 31, 2017 Assets Current Assets Cash $ 40,000 Accounts receivable Inventory 1,750 Prepaid insurance Total Current Assets $ 41,750 Fixed Assets Plant and Equipment, net $ Total Assets $ 15,000 56,750 Liabilities and Net Assets Liabilities Current Liabilities Accounts payable Wages Payable Total Current Liabilities Long-Term Liabilities Mortgage payable Notes payable Total Liabilities $ $ 6,750 6,750 $ $ $ 50,000 56,750 Net Assets Unrestricted Temporarily Restricted Permanently Restricted Total Net Assets Total Liabilities and Net Assets $ $ 56,750 10-17 AMERI Assets Cash Beginning Balance Accounts Receivable $10,000 Transaction1 Pledges Receivable $26,000 300,000 Inventory $350,000 Prepaid Insurance $25,000 Plant & Equipment $0 $350,000 (300,000) Transaction 2 Transaction3 (50,000) Transaction4 (5,000) Transaction5 5,000 80,000 Transaction6 (30,000) Transaction7 60,000 (10,000) Transaction8 10,000 75,000 Transaction9 (28,000) Transaction1 0 (75,000) Transaction1 1 68,000 12,000 (58,000) Transaction1 2 Transaction1 3 Ending Balance (40,000) $ 335,000 $ 38,000 $ 50,000 $ 27,000 $ - $ 325,000 AMERICAN RESEARCH COUNCIL FOR HUMANITIES (A.R.C.H.) TRANSACTIONS = Liabilities and Net Assets Accounts Payable $761,000 Notes Payable $27,000 $270,000 Liabilities Depreciation COGS Expense Interest Expense $0 Wages Payable $0 $32,000 $0 $0 -$50,000 $0 $80,000 $30,000 30,000 $0 $75,000 75,000 -$28,000 (25,000) (3,000) -$75,000 (75,000) $22,000 (30,000) (58,000) $0 -$40,000 (40,000) $ 27,000 $ 320,000 $ (3,000) $ (40,000) $ (43,000) $775,000 $0 ONS abilities and Net Assets Grant Payable Mortgage Payable $0 Net Assets Temporarily Permanantly Unrestricted Restricted Restricted $0 $302,000 $30,000 $100,000 $761,000 $0 $0 (50,000) -$50,000 $0 80,000 $80,000 $30,000 $0 $75,000 -$28,000 -$75,000 110,000 $22,000 $0 -$40,000 $ (50,000) $ - $ 492,000 $ 30,000 $ 100,000 $775,000 10-17 a AMERICAN RESEARCH COUNCIL FOR HUMANITIES (A.R.C.H.) Operating Statement for the year Ending in December 31, 2017 Revenues and Support Book sale revenues Donation revnue $ Total Revenues and Support 110,000 80,000 190,000 Expenses Grant expense Wage expense Interest expense COGS Bad debt expense Depreciation Total Expenses Increase/Decrease in Net Assets $ 50,000 90,000 3,000 58,000 2,000 40,000 243,000 (53,000) AMERICAN RESEARCH COUNCIL FOR HUMANITIES Statement of Financial Position for the year Ending in December 31, 2017 Assets Current Assets Cash $ 10,000 Accounts receivable 26,000 Pledges receivable 350,000 Inventory 25,000 Prepaid insurance Total Current Assets $ 411,000 AMERICAN RESEAR Stateme for the year E Current Assets Cash Total Current Assets Fixed Assets Fixed Assets Plant and Equipment, net 350,000 Total Long-Term Assets Total Assets $ 761,000 Total Assets Liabi Liabilities and Net Assets Liabilities Current Liabilities Accounts payable Wages Payable Total Current Liabilities Liabilities Current Liabilities $ 27,000 32,000 $ 59,000 Total Current Liabilities Long-Term Liabilities Notes payable $ Total Liabilities 270,000 Long-Term Lia 329,000 Total Liabilities Net Assets Unrestricted Temporarily Restricted Permanently Restricted Total Net Assets Total Liabilities and Net Assets 302,000 30,000 100,000 $ 432,000 761,000 Net Assets Total Net Assets Total Liabilities and Net Asse AMERICAN RESEARCH COUNCIL FOR HUMANITIES Statement of Financial Position for the year Ending in December 31, 2018 Assets rrent Assets $ 335,000 Accounts receivable, net of uncollectables 36,000 Pledges receivable 50,000 Inventory 27,000 tal Current Assets Plant and Equipment, net tal Long-Term Assets $ 448,000 $ 325,000 $ $ 325,000 773,000 $ $ $ 27,000 (50,000) (43,000) (66,000) $ $ 320,000 254,000 $ $ 492,000 30,000 100,000 622,000 876,000 Liabilities and Net Assets rrent Liabilities Accounts payable Grant Payable Wages Payable tal Current Liabilities Notes payable tal Liabilities Unrestricted Temporarily Restricted Permanently Restricted tal Net Assets tal Liabilities and Net Assets Solution-10-15 1. Jan. 12 Assets (A) Cash $300,000 = Liabilities (L) + Net Assets (NA) = No change + No change + - Net Assets (NA) Grant Expense $50,000 Liabilities (L) + Net Assets (NA) No change + No change Liabilities (L) + + Net Assets (NA) Donation revenue $80,000 + Net Assets (NA) + No change Pledges receivable - $300,000 2 Feb. 4 No journal entry. There has been no exchange by either party. 3 Mar. 1 = Liabilities (L) Assets (A) Cash - $50,000 4 Assets (A) Deposit $5,000 = 29-May = = Cash - $5,000 5 Assets (A) Cash $80,000 6 Assets (A) Inventory $60,000 Jun. 12 = = Sept. 1 = = Cash - $30,000 7 Oct. 15 Liabilities (L) Accounts payable $30,000 Assets (A) PPE $15,000 = Liabilities (L) + Net Assets (NA) = No change + No change Liabilities (L) Notes payable $75,000 + Net Assets (NA) No change Liabilities (L) Notes payable - $25,000 + Net Assets (NA) Interest expense $3,000 Liabilities (L) Wages payable $15,000 + Liabilities (L) + Deposit - $5,000 Cash - $10,000 8 Assets (A) Cash $75,000 9 Assets (A) Cash - $28,000 10 Assets (A) Cash - $75,000 11 Assets (A) Cash $98,000 Nov. 10 = = Dec. 5 = = Dec. 28 = = Dec. 31 = = - - + Net Assets (NA) Wage expense $90,000 Net Assets (NA) Sales revenue $110,000 Accounts receivable $12,000 Inventory ($58,000) - Cash ($30,000) 12 Accounts payable ($30,000) Dec. 31 Cost of goods sold ($58,000) Assets (A) Accounts receivable, net - $2,000 13 Assets (A) PPE, net - $40,000 = = Dec. 31 = = Liabilities (L) + - Net Assets (NA) Bad debt expense $2,000 Liabilities (L) + - Net Assets (NA) Deprec. expense $40,000 Solution-10-16 (000's omitted) Assets Cash 10 Pledges Receivable 350 Transaction #1 Transaction #2 Transaction #3 Transaction #4 Transaction #5 300 (300) Transaction #6 Transaction #7 Transaction #8 Transaction #9 Transaction #10 Transaction #11 Transaction #11 (con't) (30) (10) 75 (28) (75) 98 Transaction (con't) (30) Beginning Balance Acc. Rec. Net 26 Inventory 25 (50) (5) 80 #11 Deposits 0 5 60 (5) 12 (58) Transaction #12 (2) Transaction #13 Ending Balance $335 $50 $36 $27 $0 = Liabilities and Net Assets Net Assets PPE net 350 Accounts Payable 27 Wages Payable 32 Notes Payable 270 TempoPermararily nently Restricted Restricted 30 100 Unrestricted 302 (50) Grant Expense 80 Donation Revenue (3) (90) 110 (58) Interest Expense Wage Expense Sales Revenue COGS (2) Bad Debt Expense (40) Depreciation Expense 30 15 75 (25) 15 (30) (40) $325 $27 $47 $320 $249 $30 $100 9-25 CONCERN FOR ANIMAL SHELTER AND HABITATS (C.A.S.H.) TRANSACTIONS = Assets Cash Beginning Balance Transaction 1 $0 Accounts Inventory Receivable $0 $0 Prepaid Insurance $0 Plant & Equipment $0 Liabilities and Net Assets Accounts Payable $0 50,000 Liabilities Notes Wages Payable Payable $0 Mortgage Payable Net Assets Temporarily Permanantly Unrestricted Restricted Restricted $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 50,000 Transaction 2 Transaction 3 1,750 1,750 Transaction 4 (5,000) 5,000 Transaction 5 (5,000) 10,000 5,000 Ending Balance $40,000 $15,000 $6,750 $0 $1,750 $0 $50,000 9-26 CONCERN FOR ANIMAL SHELTER AND HABITATS (C.A.S.H.) Statement of Financial Position As of December 31, 2017 Assets Current Assets Cash $ 40,000 Accounts receivable Inventory 1,750 Prepaid insurance Total Current Assets $ 41,750 Fixed Assets Plant and Equipment, net $ Total Assets $ 15,000 56,750 Liabilities and Net Assets Liabilities Current Liabilities Accounts payable Wages Payable Total Current Liabilities Long-Term Liabilities Mortgage payable Notes payable Total Liabilities $ $ 6,750 6,750 $ $ $ 50,000 56,750 Net Assets Unrestricted Temporarily Restricted Permanently Restricted Total Net Assets Total Liabilities and Net Assets $ $ 56,750 10-17 AMERI Assets Cash Beginning Balance Accounts Receivable $10,000 Transaction1 Pledges Receivable $26,000 300,000 Inventory $350,000 Prepaid Insurance $25,000 Plant & Equipment $0 $350,000 (300,000) Transaction 2 Transaction3 (50,000) Transaction4 (5,000) Transaction5 5,000 80,000 Transaction6 (30,000) Transaction7 60,000 (10,000) Transaction8 10,000 75,000 Transaction9 (28,000) Transaction1 0 (75,000) Transaction1 1 68,000 12,000 (58,000) Transaction1 2 Transaction1 3 Ending Balance (40,000) $ 335,000 $ 38,000 $ 50,000 $ 27,000 $ - $ 325,000 AMERICAN RESEARCH COUNCIL FOR HUMANITIES (A.R.C.H.) TRANSACTIONS = Liabilities and Net Assets Accounts Payable $761,000 Notes Payable $27,000 $270,000 Liabilities Depreciation COGS Expense Interest Expense $0 Wages Payable $0 $32,000 $0 $0 -$50,000 $0 $80,000 $30,000 30,000 $0 $75,000 75,000 -$28,000 (25,000) (3,000) -$75,000 (75,000) $22,000 (30,000) (58,000) $0 -$40,000 (40,000) $ 27,000 $ 320,000 $ (3,000) $ (40,000) $ (43,000) $775,000 $0 ONS abilities and Net Assets Grant Payable Mortgage Payable $0 Net Assets Temporarily Permanantly Unrestricted Restricted Restricted $0 $302,000 $30,000 $100,000 $761,000 $0 $0 (50,000) -$50,000 $0 80,000 $80,000 $30,000 $0 $75,000 -$28,000 -$75,000 110,000 $22,000 $0 -$40,000 $ (50,000) $ - $ 492,000 $ 30,000 $ 100,000 $775,000 10-17 a AMERICAN RESEARCH COUNCIL FOR HUMANITIES (A.R.C.H.) Operating Statement for the year Ending in December 31, 2017 Revenues and Support Book sale revenues Donation revnue $ Total Revenues and Support 110,000 80,000 190,000 Expenses Grant expense Wage expense Interest expense COGS Bad debt expense Depreciation Total Expenses Increase/Decrease in Net Assets $ 50,000 90,000 3,000 58,000 2,000 40,000 243,000 (53,000) AMERICAN RESEARCH COUNCIL FOR HUMANITIES Statement of Financial Position for the year Ending in December 31, 2017 Assets Current Assets Cash $ 10,000 Accounts receivable 26,000 Pledges receivable 350,000 Inventory 25,000 Prepaid insurance Total Current Assets $ 411,000 AMERICAN RESEAR Stateme for the year E Current Assets Cash Total Current Assets Fixed Assets Fixed Assets Plant and Equipment, net 350,000 Total Long-Term Assets Total Assets $ 761,000 Total Assets Liabi Liabilities and Net Assets Liabilities Current Liabilities Accounts payable Wages Payable Total Current Liabilities Liabilities Current Liabilities $ 27,000 32,000 $ 59,000 Total Current Liabilities Long-Term Liabilities Notes payable $ Total Liabilities 270,000 Long-Term Lia 329,000 Total Liabilities Net Assets Unrestricted Temporarily Restricted Permanently Restricted Total Net Assets Total Liabilities and Net Assets 302,000 30,000 100,000 $ 432,000 761,000 Net Assets Total Net Assets Total Liabilities and Net Asse AMERICAN RESEARCH COUNCIL FOR HUMANITIES Statement of Financial Position for the year Ending in December 31, 2018 Assets rrent Assets $ 335,000 Accounts receivable, net of uncollectables 36,000 Pledges receivable 50,000 Inventory 27,000 tal Current Assets Plant and Equipment, net tal Long-Term Assets $ 448,000 $ 325,000 $ $ 325,000 773,000 $ $ $ 27,000 (50,000) (43,000) (66,000) $ $ 320,000 254,000 $ $ 492,000 30,000 100,000 622,000 876,000 Liabilities and Net Assets rrent Liabilities Accounts payable Grant Payable Wages Payable tal Current Liabilities Notes payable tal Liabilities Unrestricted Temporarily Restricted Permanently Restricted tal Net Assets tal Liabilities and Net Assets Solution-10-15 1. Jan. 12 Assets (A) Cash $300,000 = Liabilities (L) + Net Assets (NA) = No change + No change + - Net Assets (NA) Grant Expense $50,000 Liabilities (L) + Net Assets (NA) No change + No change Liabilities (L) + + Net Assets (NA) Donation revenue $80,000 + Net Assets (NA) + No change Pledges receivable - $300,000 2 Feb. 4 No journal entry. There has been no exchange by either party. 3 Mar. 1 = Liabilities (L) Assets (A) Cash - $50,000 4 Assets (A) Deposit $5,000 = 29-May = = Cash - $5,000 5 Assets (A) Cash $80,000 6 Assets (A) Inventory $60,000 Jun. 12 = = Sept. 1 = = Cash - $30,000 7 Oct. 15 Liabilities (L) Accounts payable $30,000 Assets (A) PPE $15,000 = Liabilities (L) + Net Assets (NA) = No change + No change Liabilities (L) Notes payable $75,000 + Net Assets (NA) No change Liabilities (L) Notes payable - $25,000 + Net Assets (NA) Interest expense $3,000 Liabilities (L) Wages payable $15,000 + Liabilities (L) + Deposit - $5,000 Cash - $10,000 8 Assets (A) Cash $75,000 9 Assets (A) Cash - $28,000 10 Assets (A) Cash - $75,000 11 Assets (A) Cash $98,000 Nov. 10 = = Dec. 5 = = Dec. 28 = = Dec. 31 = = - - + Net Assets (NA) Wage expense $90,000 Net Assets (NA) Sales revenue $110,000 Accounts receivable $12,000 Inventory ($58,000) - Cash ($30,000) 12 Accounts payable ($30,000) Dec. 31 Cost of goods sold ($58,000) Assets (A) Accounts receivable, net - $2,000 13 Assets (A) PPE, net - $40,000 = = Dec. 31 = = Liabilities (L) + - Net Assets (NA) Bad debt expense $2,000 Liabilities (L) + - Net Assets (NA) Deprec. expense $40,000 Solution-10-16 (000's omitted) Assets Cash 10 Pledges Receivable 350 Transaction #1 Transaction #2 Transaction #3 Transaction #4 Transaction #5 300 (300) Transaction #6 Transaction #7 Transaction #8 Transaction #9 Transaction #10 Transaction #11 Transaction #11 (con't) (30) (10) 75 (28) (75) 98 Transaction (con't) (30) Beginning Balance Acc. Rec. Net 26 Inventory 25 (50) (5) 80 #11 Deposits 0 5 60 (5) 12 (58) Transaction #12 (2) Transaction #13 Ending Balance $335 $50 $36 $27 $0 = Liabilities and Net Assets Net Assets PPE net 350 Accounts Payable 27 Wages Payable 32 Notes Payable 270 TempoPermararily nently Restricted Restricted 30 100 Unrestricted 302 (50) Grant Expense 80 Donation Revenue (3) (90) 110 (58) Interest Expense Wage Expense Sales Revenue COGS (2) Bad Debt Expense (40) Depreciation Expense 30 15 75 (25) 15 (30) (40) $325 $27 $47 $320 $249 $30 $100