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PLEASE answer all parts posted!! i will upvote if the answers are correct!! Thank you!!! For purposes of external reporting, not-for-profits-unlike governments in their governmental

PLEASE answer all parts posted!! i will upvote if the answers are correct!! Thank you!!! image text in transcribed
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For purposes of external reporting, not-for-profits-unlike governments in their governmental funds-do not distinguish between plant and other types of resources, In 20X0, the Northwest Ballet Association (NBA), a not-for-profit performing arts organization. undertook a major capital campaign to fund a new theater, expected to cost $10 million. It was quickly able to raise $6 million, all of which was donor restricted. It borrowed the balance, issuing a 5-year, 8-percent term note for $4 million. During the year, the NBA broke ground on the project and incurred construction costs of $3.4 million. It earned $0.52 million in interest on investments. It incurred and paid $0.32 million in interest on the note. In addition, as required by the note, it placed $0.7 million in a reserve fund (a specially dedicated bank account) for the repayment of the debt. (a1) To show how these transactions would be reflected on the NBA's financial statements, prepare a December 31, 20X0, statement of activities. Assume that these were the only transactions in which the organization engaged and that all available cash, except that in the reserve fund, had been invested in short-term marketable securities. (Do not leave any answer field blank. Enter O for amounts. Enter negative amounts using either a negotive sign preceding the number eg. -45 or parentheses es. (45). Enter amounts in millions rounded to 2 decimal places, es. 15.25. To show how these transactions would be refected on the NBAs financial statements, prepare a December 31,200, statement of financial position. Assume that these were the only transactions in which the organization engased and that all available rash cxcept that in the reserve fund, fud been invested in short-term marketable securities. (Enter amounts in millilons rounded to 2 decimal ploces.eg. 15.25. Northwest Ballet Association Statement of Financial Position (in millions) Assets $ $ Liabilities and Fund Balance $ Liabilities and Fund Batance

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