Only need the answers to Part (b) that are incorrect. Thanks.
15 Problem 18-46 (Algo) (LO 18-6) Help & Save is a private not-for-profit entity that operates in Kansas. Swim For Safety is a private not-for-profit entity that op Missouri. The leaders of these two organizations have decided to combine forces on January 1, 2020, in order to have a big from their work. They are currently discussing ways by which this combination can be created. The following are statement financial position for both charities at that date, Dints $1,730,000 96,000 365,000 765,000 $2,956,000 HELP & SAVE Statement of Financial Position January 1, 2020 Assets Cash Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities Net Assets Net assets without donor restrictions Het assets with donor restrictions Total net assets Total liabilities and net assets $175,000 1,165.000 $1,340.000 51,230,000 386,000 $1,610,000 S2.956,000 SWIM FOR SAFETY Statement of Financial Position January 1, 2020 Assets Cash Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities Net Assets Net assets without donor restrictions Net assets with donor restrictions Total net assets $630,000 236,000 235,000 655,000 $1,756,000 $200,000 685,000 $885,000 $485,000 386,000 $871,000 15 Answer is complete and correct. HELP & SAVE Statement of Financial Position January 1, 2020 nts Assets $ 1,230,000 332.000 600,000 1,547,000 132,000 3,841,000 $ Cash Contributions receivable (net) Investments Buildings & equipment (net) Goodwill Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities Net Assets Net assets without donor restrictions Net assets with donor restrictions Total net assets $ 375.000 1.850.000 2.225.000 S 844.000 772.000 1.616.000 S 15 Answer is complete but not entirely correct. 14 points s 1,306,000 332.000 600.000 1.547.000 3.785.000 S HELP & SAVE Statement of Financial Position January 1, 2020 Assets Cash Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued abilities Notes payable Total liabilities Net Assets Net assets without donor restrictions Net assets with donor restrictions Total not assets S 375,000 1.850.000 2.225.000 S 303.000 x 772.000 1 075 000 S c. Assume that these two organizations are combined into a new private not-for-profit entity to be known as Help-su governing body will be formed to manage and operate this new organization. What balances will appear on the state position immediately after control is gained? Answer is complete but not entirely correct. HELP-SWIM-SAVE Statement of Financial Position January 1, 2020 Assets Cash $ 2.360.000 Contributions receivable (net) 332,000 Investments 600,000 Buildings & equipment (net) 1.410.000 Total assets S 4,702,000 Liabilities Accounts payable and accrued liabilities $ 375.000 Notes payable 1.850.000 Total liabilities S 2.225.000 600.000 1.410.000 4.702.000 Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities Net Assets Net assets without donor restrictions Net assets with donor restrictions Total net assets Total liabilities and net assets 375,000 1,850,000 2.225.000 $ 1.715,000 772,000 2.487,000 4.712.000 CA $
