Question
Need help figuring out Program expenditures below. What am I missing?? Current year cash receipts and disbursements for the Walker Aquarium appear below (in thousands).
Need help figuring out Program expenditures below. What am I missing??
Current year cash receipts and disbursements for the Walker Aquarium appear below (in thousands).
1. Unrestricted cash contributions, $6,000.
2. Collections of documented promises, $65.
3. Cash endowments donor-restricted in perpetuity, $45.
4. Grant received from a private trust, restricted to special programs, $500. $425 is spent on these programs.
5. Cash paid to acquire equipment, $200.
6. Cash invested in securities, $150. Cash received from the sale of securities, $35.
7. Donor-restricted cash accumulated in prior years, spent for programs: $150; spent for equipment, $125.
8. Program, fund-raising and administrative expenses were $5,700; accounts payable increased $40 during the year, and depreciation included in expenses was $50.
9. Investment income was $25; included was $5 in unrealized gains.
Direct method is to be used.
Use negative signs with any answers that decrease (reduce) cash balance.
Walker Aquarium
Statement of Cash Flows(in thousands):
Cash flows from operating activities:
Contributions - 6065
Grant - 500
Investment income - 20
Program expenditures - *******(Need help with this part!!) (5700 + increase in AP + Dep Exp) Entered (5610) and its incorrect - What am I missing????******
Net cash from operating activities -
Cash flows from investing activities:
Equipment purchases - (325)
Investment purchases - (150)
Sale of investments - 35
Net cash used for investing activities - (440)
Cash flows from financing activities:
Endowments - 45
Net cash from financing activities - 45
Increase in cash -
Beginning cash balance - 120
Ending cash balance -
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started