MPAC 7126 Public Budgeting and Financial Management Community Financial Administration Project Student Name: Please answer the following questions using Excel to show your equations and/or calculations. Answers without any work or explanation may receive only partial credit or no credit at all. Please show your work and answers clearly. Columbus Youth Agency (CYA) is a voluntary health and welfare organization that provides counseling and recreation programs for youthful offenders and delinquents. CYAs programs are financed through a contract with the county in which it is located and through contributions from local citizens. Its contract with the county provides for reimbursement of allowable costs based on monthly billings to the county. CYA uses the accrual basis of accounting, and the following transactions occurred: 1) CYA received cash in the amount of $25,000, to be used as the CYA board of directors considers appropriate. 2) CYA received a gift of Intel stock that had a fair market value of $1,300 total at the time of the gift. The donor sent CYAs president a letter with the gift, saying that proceeds of the stock should be used only to purchase athletic equipment for the basketball team. CYA sold the stock upon receipt. 3) CYA paid $800 cash for athletic equipment, using some of the proceeds received in Transaction 2. The expense was charged to the Recreation programs account. 4) CYA spent $12,000 cash on the following: $8,000 for counseling programs, $3,000 for recreation programs, and $1,000 for administration. 5) CYA billed the county $6,500 for costs incurred under its contract. 6) A licensed social worker in the area donated 100 hours of her time to CYA. Her normal hourly rate is $50 per hour. The CEO appreciates the donation because otherwise he would have to purchase the counseling services. 7) CYA borrowed $10,000 from the local bank on an unsecured note. The whole amount will be repaid next year. 8) CYA paid the local bank $1,600, of which $400 was interest. 9) CYA recorded $300 of depreciation for the year. 10) CYA prepaid next years rent of $12,000. 11) CYA determined that it will not be able to collect $2,500 of pledges. Q. 1) Record the above transactions. Then, using the beginning balances in the table below, produce 2) the balance sheet, 3) activity statement, and 4) cash flow statement. Account Balance Cash $2,000 Contracts Receivable 1,000 Equipment 2,500 Net Assets without Donor Restrictions 6,000 Pledges Receivable, Net of Allowance 500