NEED HELP WITH PART 3
1. Statement of Financial Position You will use the data provided in the Trial Balance tab to complete this statement.
2. Statement of Activities In addition to the information provided from the Trial Balance tab, use the following information about your nonprofit to prepare the Statement of Activities. a. Salaries and Fringe Benefit Expenses were allocated to Program Services and Supporting Expenses in the following percentages: i. Program 1: 40% ii. Program 2: 20% iii. Program 3: 10% iv. Management and General: 20% v. Fund-Raising: 10% b. Rent and Utility, Supplies, Printing and Publishing, and Telephone and Postage Expenses were allocated in the same manner as Salaries and Fringe Benefit Expenses. c. Depreciation Expense was divided equally to each functional expense category.
3. Statement of Cash Flows In addition to the information provided from the Trial Balance tab and the information you have the prepared in the Statement of Financial Position and Statement of Activities, use the following information to prepare the Statement of Cash Flows.
a. Your organization had $163,314 of cash on hand at the beginning of the year.
b. During the year, your organization received cash from contributors: $340,800 that was unrestricted and $38,100 that was restricted for the purchase of equipment for the center.
c. It had $11,200 of income earned and received on long-term investments.
d. The organization spent cash of $288,410 on salaries and fringe benefits, $22,000 on the purchase of equipment, and $86,504 for operating expenses.
e. Other pertinent information follows: net pledges receivable increased $6,000, inventory increased $1,000, accounts payable decreased $102,594, and there were no salaries payable at the beginning of the year.
***THE YEAR END ***
Statement of Financial Position Assets Cash 156500 36900 (41000 4100) Pledges Receivable Inventory Investments Furniture and Equipment 178000 90000 (210000-120000) Total Assets 464200 Liabilities Accounts Payable 20520 Total Liabilities 20520 Cash Pledges Receivable-Without Donor Restrictions Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions-Programs Net Assets With Donor Restrictions-Permanent Endowment Contributions-Without Donor Restrictions Contributions-With Donor Restrictions-Programs Investment Income-Without Donor Restrictions Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense Totals Debit Credit $156,500 41,000 $4,100 2,800 178,000 210,000 120,000 20,520 196,500 50,500 140,000 378,820 38,100 11,200 30,000 4,190 32,000 288,410 5,940 4,500 6,400 $959,740 $959,740 Net Assets without Donor Restrictions with Donor Restrictions - Programs with Donor Restrictions. Permanent Endowment 215080 (W.N-1) 88600 (50500+38100) 140000 Total Net Assets 443600 Total Liabilities and Net Assets 464200 W.N.1 Income Statement Contributions - Without Donor Restrictions Investment Income. Without Donor Restrictions 378820 11200 30000 Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense 32000 288410 6400 371450 190020 13580 Net Asset-Without Donor Restrictions Add: Opening Balance Total Without Donor restrictions With Donor restrictions Total Revenue, Gains and Other Support: Contributions Investment Income 378,820 11.2001 38,100 416,920 11 2001 Year Ended December 31, 2018 Cash Flows from Operating Activities: Cash Received from Contributors Cash Received as Investment Income Cash Paid to Employees Cash Paid for Operating Expenses Total revenue, gains and other support 390, 020 3 8,100 428,120 Expenses and Losses: Program Services: Program 1 Program 2 Program 3 142,576 74,288 40,144 Total Program Expenses I 257,008 Support Expenses Management and General Fundraising Net Cash Used for Operating Activities Cash Flows from Investing Activities: Purchase of Furniture and Equipment Cash Flows from Financing Activities: Proceeds from Contributions Restricted for: Investment in Capital Assets Net Increase(Decrease) in Cash Cash, December 31, 2017 Cash, December 31, 2018 74288 40144 Total Supprt Expenses 114432 Reconciliation of Changes in Net Assets to Net Cash Used for Change in Net Assets Adjustments to Reconcile Changes in Net Assets to Net Cash Depreciation Increase in Net Pledges Receivable Increase in Inventory Decrease in Accounts Payable Net Cash Used for Operating Activities Statement of Financial Position Assets Cash 156500 36900 (41000 4100) Pledges Receivable Inventory Investments Furniture and Equipment 178000 90000 (210000-120000) Total Assets 464200 Liabilities Accounts Payable 20520 Total Liabilities 20520 Cash Pledges Receivable-Without Donor Restrictions Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions-Programs Net Assets With Donor Restrictions-Permanent Endowment Contributions-Without Donor Restrictions Contributions-With Donor Restrictions-Programs Investment Income-Without Donor Restrictions Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense Totals Debit Credit $156,500 41,000 $4,100 2,800 178,000 210,000 120,000 20,520 196,500 50,500 140,000 378,820 38,100 11,200 30,000 4,190 32,000 288,410 5,940 4,500 6,400 $959,740 $959,740 Net Assets without Donor Restrictions with Donor Restrictions - Programs with Donor Restrictions. Permanent Endowment 215080 (W.N-1) 88600 (50500+38100) 140000 Total Net Assets 443600 Total Liabilities and Net Assets 464200 W.N.1 Income Statement Contributions - Without Donor Restrictions Investment Income. Without Donor Restrictions 378820 11200 30000 Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense 32000 288410 6400 371450 190020 13580 Net Asset-Without Donor Restrictions Add: Opening Balance Total Without Donor restrictions With Donor restrictions Total Revenue, Gains and Other Support: Contributions Investment Income 378,820 11.2001 38,100 416,920 11 2001 Year Ended December 31, 2018 Cash Flows from Operating Activities: Cash Received from Contributors Cash Received as Investment Income Cash Paid to Employees Cash Paid for Operating Expenses Total revenue, gains and other support 390, 020 3 8,100 428,120 Expenses and Losses: Program Services: Program 1 Program 2 Program 3 142,576 74,288 40,144 Total Program Expenses I 257,008 Support Expenses Management and General Fundraising Net Cash Used for Operating Activities Cash Flows from Investing Activities: Purchase of Furniture and Equipment Cash Flows from Financing Activities: Proceeds from Contributions Restricted for: Investment in Capital Assets Net Increase(Decrease) in Cash Cash, December 31, 2017 Cash, December 31, 2018 74288 40144 Total Supprt Expenses 114432 Reconciliation of Changes in Net Assets to Net Cash Used for Change in Net Assets Adjustments to Reconcile Changes in Net Assets to Net Cash Depreciation Increase in Net Pledges Receivable Increase in Inventory Decrease in Accounts Payable Net Cash Used for Operating Activities
