only need balance sheet, statement of cash flow (using indirect method) and the answer to the last question on 10-17. "what do you learn from these statements, and what questions do they raise"

CHAPTER 10 Reporting the Results of Operations: The Activity 10-17. Use Problems 10-15 and 10-16 to prepare an activity statement (operating statement), a comparative statement of financial position (balance sheet), and a statement of cash flows (using the indirect method). What do you learn from these statements, and what questions do they raise? ut for profit 10-15. The American Research Council for Humanities (ARCH) had the following financial events during the current year: 1. January 12. Received a $300,000 payment from a pledge made last year. 2. February 4. Placed an order for new cubicle partitions with 5-year useful lives, for $15,000. ARCH uses straight-line depreciation. Payment was not yet made, and the partitions have not yet been delivered. 3. March 1. Paid out a $50,000 grant to the Governmental Archeological Research Committee for History. This was a new grant made in the current fiscal year. 4. May 29. Paid a $5,000 deposit for the partitions ordered on February 4. 5. June 12. Collected $80,000 in new donations. 6. September 1. Bought $60,000 of books ARCH has sponsored in the past to sell in its online bookstore. It paid half now, and still owes the other half, to be paid at the end of the year. O = 2 Z ads fron Exhi anu ARCH has budgeted to sell the books for method ed on February 4 and wh record whether crease in assets ganisation $100,000 total. 7 October 15. The partitions ordered on arrived, and ARCH paid for the 8. November 10. Borrowed $75.000 on a note payable. ARCH paid for the balance owed mber 10. Borrowed $75,000 from its bent 10-18. The Sci organi: merformance demor on a S organ accou at it owes Cas Gra Inve Net December 5. Repaid $25,000 on the note navable and also $3,000 m interest expense 16. December 28. Paid its employees $75.000 of wages in cash for the year, $70,000 of which was for the current year and $5,000 of which was for the outstanding balance owed. Employees earned $90,000 in wages for the year. 11. December 31. Book sales from the internet bookstore totaled $110,000, and the cost of the books sold was $58,000. ARCH has not collected $12,000 of the sales. The balance owed for the inventory was paid. 12. ARCH expects that of the $12,000 not collected to date, it will collect $10,000. 13. December 31. Depreciation on ARCH's building for the year is $40,000. Record these transactions and any other required adjusting entries by showing their impact on the fundamental equation of accounting or journal entries. Ple oviding goods or a client in hat was made in ges. e been earned. uncollectible. du or Humanities al events during 10-16. ARCH began the year with the following balances (shown in alphabetical order) in their accounts: 000 payment or new cubicle ives, for $15.000 eciation. Payment titions have not Accounts Payable Accounts Receivable, Net Cash Inventory Net Assets with Donor Restrictions Net Assets without Donor Restrictions grant to the Research was a new grant $ 27,000 26,000 10,000 25,000 130,000 302,000 270,000 350,000 350,000 t for the Notes Payable Pledges Receivable Property. Plant, and Equipment, Net Wages Payable 32,000 new donations. of books ARCH ell in its online nd still owes the and of the year. Record this information and the transactions from Problem 10-15 in a worksheet similar to Exhibit 10-7. CHAPTER 10 Reporting the Results of Operations: The Activity 10-17. Use Problems 10-15 and 10-16 to prepare an activity statement (operating statement), a comparative statement of financial position (balance sheet), and a statement of cash flows (using the indirect method). What do you learn from these statements, and what questions do they raise? ut for profit 10-15. The American Research Council for Humanities (ARCH) had the following financial events during the current year: 1. January 12. Received a $300,000 payment from a pledge made last year. 2. February 4. Placed an order for new cubicle partitions with 5-year useful lives, for $15,000. ARCH uses straight-line depreciation. Payment was not yet made, and the partitions have not yet been delivered. 3. March 1. Paid out a $50,000 grant to the Governmental Archeological Research Committee for History. This was a new grant made in the current fiscal year. 4. May 29. Paid a $5,000 deposit for the partitions ordered on February 4. 5. June 12. Collected $80,000 in new donations. 6. September 1. Bought $60,000 of books ARCH has sponsored in the past to sell in its online bookstore. It paid half now, and still owes the other half, to be paid at the end of the year. O = 2 Z ads fron Exhi anu ARCH has budgeted to sell the books for method ed on February 4 and wh record whether crease in assets ganisation $100,000 total. 7 October 15. The partitions ordered on arrived, and ARCH paid for the 8. November 10. Borrowed $75.000 on a note payable. ARCH paid for the balance owed mber 10. Borrowed $75,000 from its bent 10-18. The Sci organi: merformance demor on a S organ accou at it owes Cas Gra Inve Net December 5. Repaid $25,000 on the note navable and also $3,000 m interest expense 16. December 28. Paid its employees $75.000 of wages in cash for the year, $70,000 of which was for the current year and $5,000 of which was for the outstanding balance owed. Employees earned $90,000 in wages for the year. 11. December 31. Book sales from the internet bookstore totaled $110,000, and the cost of the books sold was $58,000. ARCH has not collected $12,000 of the sales. The balance owed for the inventory was paid. 12. ARCH expects that of the $12,000 not collected to date, it will collect $10,000. 13. December 31. Depreciation on ARCH's building for the year is $40,000. Record these transactions and any other required adjusting entries by showing their impact on the fundamental equation of accounting or journal entries. Ple oviding goods or a client in hat was made in ges. e been earned. uncollectible. du or Humanities al events during 10-16. ARCH began the year with the following balances (shown in alphabetical order) in their accounts: 000 payment or new cubicle ives, for $15.000 eciation. Payment titions have not Accounts Payable Accounts Receivable, Net Cash Inventory Net Assets with Donor Restrictions Net Assets without Donor Restrictions grant to the Research was a new grant $ 27,000 26,000 10,000 25,000 130,000 302,000 270,000 350,000 350,000 t for the Notes Payable Pledges Receivable Property. Plant, and Equipment, Net Wages Payable 32,000 new donations. of books ARCH ell in its online nd still owes the and of the year. Record this information and the transactions from Problem 10-15 in a worksheet similar to Exhibit 10-7