Preparation of financial statements for a nonprofit Following are the preclosing fund trial balances as of December 31, for Olivers Place, a nonprofit. Prepare a statement of activities for the year ended December 31; also prepare a statement of financial position as of December 31.

Olivers Place Preclosing Trial Balances December 31 Unrestricted Current Fund
	Debit	Credit
Cash	$12,100
Contributions receivable	22,000
Investments	24,200
Allowance for uncollectible contributions		$5,500
Contribution revenueSupport without donor restrictions		126,500
Contributed servicesSupport without donor restrictions		11,000
Investment income, without donor restrictions		1,100
Unrealized investment gains, without donor restrictions		2,200
Net assets without donor restrictionsReclassifications in
satisfaction of program restrictions		3,300
Care of animals expenses	55,000
Special programs expenses	3,300
Administrative expenses	33,000
Combined total	$149,600	$149,600

Restricted Current Fund
	Debit	Credit
Cash	$15,400
Contribution revenueSupport with donor restrictions		$18,700
Net assets with donor restrictions - Reclassifications out
satisfaction of program restrictions	3,300
Combined total	$18,700	$18,700

Endowment Fund
	Debit	Credit
Investments	$51,700
Contribution revenueSupport with donor restrictions		$55,000
Unrealized investment losses, with donor restrictions	3,300
Combined total	$55,000	$55,000

Note: Contribution revenue - Support with donor restrictions includes: $2,200 classified as Purpose restricted and $13,200 that cannot be used until next fiscal year.

Olivers Place
Statement of Activities
For the Year Ended December 31
	Without Donor	With Donor
	Restrictions	Restrictions	Total
Revenues, Gains and Other Support:
Contributions
Contributed services
Investment income
Realized/unrealized invest. gains (losses)
Net assets released from restrictions:
satisfaction of program restrictions
Total revenues, gains and other support
Expenses:
Care of animals expense
Special programs expense
Administrative expenses
Total expenses
Change in net assets
Net assets, beginning of year
Net assets, end of year

Olivers Place
Statement of Financial Position
December 31
Assets:
Cash
Contributions receivable, net
Investments
Investments restricted for endowment
Total assets
Liabilities and Net Assets:
Liabilities
Net assets:
Without donor restrictions
With donor restrictions:
Time restricted only (for use in next fiscal year)
Purpose restricted
Perpetual in nature (net)
Total liabilities and net assets