The following is the preclosing trial balance for Allen University as of June 30, 2020. Additional information related to net assets and the statement of cash flows is also provided. Cash and Cash Equivalents Investments Tuition and Fees Receivable. Allowance for Doubtful Accounts Pledges Receivable Allowance for Doubtful Pledges Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Accrued Liabilities Deposits Held in Custody for Others Unearned Revenue ALLEN UNIVERSITY Preclosing Trial Balance June 30, 2020 Bonds Payable Net Assets-Without Donor Restrictions Net Assets-With Donor Restrictions Net Assets Released from Restrictions-With Donor Restrictions Net Assets Released from Restrictions-Without Donor Restrictions Tuition and Fees Tuition and Fees Discount and Allowances Contributions-Without Donor Restrictions Contributions-With Donor Restrictions Grants and Contracts-With Donor Restrictions Investment Income-Without Donor Restrictions Investment Income-With Donor Restrictions Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investments Debits $ 516,600 3,200,000 372,400 223,000 2,196,160 426,850 327,000 S Credits 75,600 79,000 658,720 103,000 37,500 17,578 62,150 792,000 3,353,110 1,320,600 426,850 1,290,750 310,200 327,000 324,000 50,500 29,500 13,250 153,560 70,000 . Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investments Unrealized Gain on Investments Instruction Expense Research Expense Academic Support Expense Student Services Expense. Institutional Support Expense Auxiliary Enterprise Expenses Total Additional Information Net assets released from donor restrictions totaled $426,850. The gain resulting from sale of investments was unrestricted. Thirty percent of the unrealized gain is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions. . Additional information is as follows: The balance in cash and cash equivalents as of July 1, 2019, was $615,540. Tuition and Fees Receivable increased by $10,230. Pledges Receivable decreased by $1,560. Allowance for Doubtful Accounts was increased by $770 (the bad debt was netted against Tuition and Fees). . Accounts Payable decreased by $2,900. Accrued Liabilities decreased by $1,120. . 13,250 153,568 70,000 179,200 1,044,630 571,800 240,560 193,000 203,360 158,700 $9,674,060 $9,674,060 Unearned Revenue increased by $6,200. Depreciation Expense was $30,070. Cash of $100,000 was used to retire bonds. . Investments were sold for $1,500,000 (at a gain of $70,000) and others were purchased for $1,250,000, Net assets without donor restrictions were used to purchase equipment at a cost of $33,000. Revenues and Gains: Student Tuition and Fees (Net) Contributions Grants and Contracts Investment Income Auxiliary Enterprises Gain on Sale of Investments Unrealized Gain on Investments Other Revenue Net Assets Released from Restrictions Total Revenues and Gains Expenses and Losses: Educational and General Expenses: Instruction Expense Research Expense ALLEN UNIVERSITY Statement of Activities Year Ended June 30, 2020 Without Donor Restrictions S 963,750 310,200 50,500 153,560 70,000 125,440 13,250 426,850 2,113,550 1,044,630 571,800 With Donor Restrictions 177,000 324,000 29,500 17,920 (426,850) 121,570 Total $ 963,750 487,200 324,000 80,000 153,560 70,000 143,360 13,250 0 0 2,235,120 1,044,630 571,800