Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Part A. Prepare the Statement of Activities for the Year Ended July 31, 2022 for Tony's Hope Rehabilitation Center. Use the information from the Trial
Part A. Prepare the Statement of Activities for the Year Ended July 31, 2022 for Tony's Hope Rehabilitation Center. Use the information from the Trial Balance to Complete. Enter any deductions with a minus sign. \begin{tabular}{|c|c|c|c|c|} \hline \multicolumn{5}{|c|}{ Tony's Hope Rehabilitation Center } \\ \hline \multicolumn{5}{|c|}{ Statement of Activities } \\ \hline \multicolumn{5}{|c|}{ Year Ended July 31,2022} \\ \hline & & \begin{tabular}{l} Without Donor \\ Restrictions \end{tabular} & With Donor Restrictions & Total \\ \hline \multicolumn{5}{|c|}{ Revenues, Gains, and Other Support: } \\ \hline & Contributions & 105,000 & r & 105,000 \\ \hline & Rehabilitation Program fees & 45,000 & & 45,000 \\ \hline & Grant from anonymous donor & 80,000 & r & 80,000 \\ \hline & Unrealized and realized gains on investment & 2,000 & & 2,000 \\ \hline & Investment income & 1,000 & r & 1,000 \\ \hline & Net assets released from restrictions: & & & \\ \hline & satisfaction of program restrictions & r & r & - \\ \hline & Total revenues, gains and other support & 233,000 & $ & 233,000 \\ \hline \multicolumn{5}{|l|}{ Expenses: } \\ \hline & Program Expenses & & & \\ \hline & Financial counseling program expenses & & & - \\ \hline & Training/Education program expenses & r & & - \\ \hline & Total Program Expenses & - & - & - \\ \hline & Supporting Expenses & & & \\ \hline & Administration expenses & r & & - \\ \hline & Total Supporting Expenses & - & - & - \\ \hline & Total expenses & $ & $ & $ \\ \hline Change in net assets & & $233,000 & $0 & $233,000 \\ \hline Net assets at beginning of year & & r & r & - \\ \hline Net assets at end of year & & $233,000 & $0 & $233,000 \\ \hline \end{tabular} Part B. Prepare the Statement of Financial Position as of July 31, 2022 for Tony's Hope Rehabilitation Center. Use the information from the Trial Ralanre to Crmolete Finter any
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