I only need help on C and D, thank you so much! 
INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2020. During the fiscal year ended December 31, 2020, the following transactions occurred. 1. A business donated rent-free office space to the organization that would normally rent for $35,200 a year. 2. A fund drive raised $186,000 in cash and $102,000 in pledges that will be paid within one year. A state government grant of $152,000 was received for program operating costs related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $208,760. At year-end, an additional $16,200 of salaries and fringe benefits were accrued. 4. A donor pledged $102,000 for construction of a new building, payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be $94,460. 5. Office equipment was purchased for $12,200. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $9,800 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. 6. Telephone expense for the year was $5,400, printing and postage expense was $12,200 for the year, utilities for the year were $8,500 and supplies expense was $4,500 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,800. 7. Volunteers contributed $15,200 of time to help with answering the phones, mailing materials, and various other clerical activities. 8. It is estimated that 90 percent of the pledges made for the 2021 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5. 9. All expenses were allocated to program services and support services in the following percentages: public health education, 35 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 15 percent. 10. Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes. 11. All nominal accounts were closed to the appropriate net asset accounts. No Debit Credit Transaction 01 A General Journal Rent Expense ContributionsWithout Donor Restrictions 35,200 35,200 B 02 338,000 102,000 Cash Contributions Receivable ContributionsWith Donor RestrictionsTime ContributionsWithout Donor Restrictions 186,000 254,000 03 224,960 Salaries and Benefits Expense Cash Salaries and Benefits Payable 208,760 16,200 D 04 102,000 Contributions Receivable ContributionsWith Donor RestrictionsTime Discount on Contributions Receivable 94,460 7,540 E 05 22,000 Equipment and Furniture Cash Contributions_Without Donor Restrictions 12,200 9 800 06 Telephone Expense Printing and Postage Expense Supplies Expense Utilities Expense Cash Accounts Payable 5,400 12,200 4,500 8,500 30,600 3,800 G 07 No Journal Entry Required H 8(a) Provision for Uncollectible Pledges Allowance for Uncollectible PledgesUnrestricted 8(b) 3,420 Depreciation Expense Allowance for DepreciationEquipment and Furniture 3,420 J 09 Public Health Education Program Community Service Program Management and General Fund-Raising Salaries and Benefits Expense Rent Expense Telephone Expense 102,963 88,254 58,836 44,127 224,960 35,200 5,400 Rent Expense Telephone Expense Printing and Postage Expense Supplies Expense Utilities Expense Depreciation Expense 35,200 5,400 12,200 4,500 8,500 3,420 K 10 152,000 Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWithout Donor Restrictions 152,000 L 11(a) 299,000 4,820 ContributionsWithout Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWithout Donor Restrictions Public Health Education Program Community Service Program Management and General Fund-Raising 102,963 88,254 58,836 44,127 M 11(b) ContributionsWith Donor RestrictionsProgram 280,460 Net Assets With Donor Restrictions 280,460 N 11(c) 152,000 ContributionsWith Donor RestrictionsTime Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions 152,000 O 11(d) 152,000 Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions Net Assets Without Donor Restrictions 152,000 Statement of Activities For the Year Ended December 31, 2020 Without Donor Restrictions With Donor Restrictions Total Revenue and Other Support: Contributions Net Assets Released from Restriction Satisfaction of Purpose $ $ 579,460 299,000 $ 152,000 280,460 (152,000) 0 0 451,000 128,460 579,460 Total Revenue and Other Support Expenses Public Health Education Community Service Management and General Fund-Raising 152,000 88,254 58,836 44,127 152,000 88,254 58,836 44,127 0 343,217 0 343,217 107,783 128,460 236,243 Total Expenses Increase in Net Assets Beginning Net Assets Ending Net Assets 0 0 0 $ 107,783 $ 128,460 $ 236,243 c. Prepare a statement of financial position for the year ended December 31, 2020. (Round the intermediate and final answers to the nearest dollar amount.) INVOLVE Statement of Financial Position December 31, 2020 Assets Cash Equipment and Furniture Contributions Receivable Total Assets $ 0 Liabilities Accounts Payable Salaries and Benefits Payable Total Liabilities 0 Net Assets Without Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions 0 Total Net Assets Total Liabilities and Net Assets $ 0 $ d. Prepare a statement of cash flows for the year ended December 31, 2020. (List of cash outflows should be indicated by a minus sign. Round the intermediate and final answers to the nearest dollar amount) INVOLVE Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities: 0 Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Net Increase in Cash Beginning Cash Ending Cash 0 $ 0 Reconciliation of Changes in Net Assets to Net Cash Provided by Operating Activities Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Cash Provided by Operating Activities $ 0 INVOLVE was incorporated as a not-for-profit voluntary health and welfare organization on January 1, 2020. During the fiscal year ended December 31, 2020, the following transactions occurred. 1. A business donated rent-free office space to the organization that would normally rent for $35,200 a year. 2. A fund drive raised $186,000 in cash and $102,000 in pledges that will be paid within one year. A state government grant of $152,000 was received for program operating costs related to public health education. 3. Salaries and fringe benefits paid during the year amounted to $208,760. At year-end, an additional $16,200 of salaries and fringe benefits were accrued. 4. A donor pledged $102,000 for construction of a new building, payable over five fiscal years, commencing in 2022. The discounted value of the pledge is expected to be $94,460. 5. Office equipment was purchased for $12,200. The useful life of the equipment is estimated to be five years. Office furniture with a fair value of $9,800 was donated by a local office supply company. The furniture has an estimated useful life of 10 years. Furniture and equipment are considered net assets without donor restrictions by INVOLVE. 6. Telephone expense for the year was $5,400, printing and postage expense was $12,200 for the year, utilities for the year were $8,500 and supplies expense was $4,500 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,800. 7. Volunteers contributed $15,200 of time to help with answering the phones, mailing materials, and various other clerical activities. 8. It is estimated that 90 percent of the pledges made for the 2021 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5. 9. All expenses were allocated to program services and support services in the following percentages: public health education, 35 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 15 percent. 10. Net assets were released to reflect satisfaction of state grant requirements that the grant resources be used for public health education program purposes. 11. All nominal accounts were closed to the appropriate net asset accounts. No Debit Credit Transaction 01 A General Journal Rent Expense ContributionsWithout Donor Restrictions 35,200 35,200 B 02 338,000 102,000 Cash Contributions Receivable ContributionsWith Donor RestrictionsTime ContributionsWithout Donor Restrictions 186,000 254,000 03 224,960 Salaries and Benefits Expense Cash Salaries and Benefits Payable 208,760 16,200 D 04 102,000 Contributions Receivable ContributionsWith Donor RestrictionsTime Discount on Contributions Receivable 94,460 7,540 E 05 22,000 Equipment and Furniture Cash Contributions_Without Donor Restrictions 12,200 9 800 06 Telephone Expense Printing and Postage Expense Supplies Expense Utilities Expense Cash Accounts Payable 5,400 12,200 4,500 8,500 30,600 3,800 G 07 No Journal Entry Required H 8(a) Provision for Uncollectible Pledges Allowance for Uncollectible PledgesUnrestricted 8(b) 3,420 Depreciation Expense Allowance for DepreciationEquipment and Furniture 3,420 J 09 Public Health Education Program Community Service Program Management and General Fund-Raising Salaries and Benefits Expense Rent Expense Telephone Expense 102,963 88,254 58,836 44,127 224,960 35,200 5,400 Rent Expense Telephone Expense Printing and Postage Expense Supplies Expense Utilities Expense Depreciation Expense 35,200 5,400 12,200 4,500 8,500 3,420 K 10 152,000 Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWithout Donor Restrictions 152,000 L 11(a) 299,000 4,820 ContributionsWithout Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWithout Donor Restrictions Public Health Education Program Community Service Program Management and General Fund-Raising 102,963 88,254 58,836 44,127 M 11(b) ContributionsWith Donor RestrictionsProgram 280,460 Net Assets With Donor Restrictions 280,460 N 11(c) 152,000 ContributionsWith Donor RestrictionsTime Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions 152,000 O 11(d) 152,000 Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions Net Assets Without Donor Restrictions 152,000 Statement of Activities For the Year Ended December 31, 2020 Without Donor Restrictions With Donor Restrictions Total Revenue and Other Support: Contributions Net Assets Released from Restriction Satisfaction of Purpose $ $ 579,460 299,000 $ 152,000 280,460 (152,000) 0 0 451,000 128,460 579,460 Total Revenue and Other Support Expenses Public Health Education Community Service Management and General Fund-Raising 152,000 88,254 58,836 44,127 152,000 88,254 58,836 44,127 0 343,217 0 343,217 107,783 128,460 236,243 Total Expenses Increase in Net Assets Beginning Net Assets Ending Net Assets 0 0 0 $ 107,783 $ 128,460 $ 236,243 c. Prepare a statement of financial position for the year ended December 31, 2020. (Round the intermediate and final answers to the nearest dollar amount.) INVOLVE Statement of Financial Position December 31, 2020 Assets Cash Equipment and Furniture Contributions Receivable Total Assets $ 0 Liabilities Accounts Payable Salaries and Benefits Payable Total Liabilities 0 Net Assets Without Donor Restrictions Net Assets ReleasedSatisfaction of Purpose RestrictionWith Donor Restrictions 0 Total Net Assets Total Liabilities and Net Assets $ 0 $ d. Prepare a statement of cash flows for the year ended December 31, 2020. (List of cash outflows should be indicated by a minus sign. Round the intermediate and final answers to the nearest dollar amount) INVOLVE Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities: 0 Net Cash Provided by Operating Activities Cash Flows from Investing Activities: Net Increase in Cash Beginning Cash Ending Cash 0 $ 0 Reconciliation of Changes in Net Assets to Net Cash Provided by Operating Activities Adjustments to Reconcile Changes in Net Assets to Net Cash Provided by Operating Activities: Cash Provided by Operating Activities $ 0
