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Preparation of financial statements for not-for-profit Following is financial data for the Center for Cardio Research, a not-for profit organization investigating the benefits of exercise
Preparation of financial statements for not-for-profit Following is financial data for the Center for Cardio Research, a not-for profit organization investigating the benefits of exercise for heart disease. Given this information, prepare the Statement of Activities and the Statement of Financial Position.
Unrestricted | Temporarily Restricted | Permanently Restricted | |
---|---|---|---|
Revenuescontributions | $4,238,993 | $427,332 | $80,553 |
Revenuesinvestment | 183,224 | 83,772 | 103,758 |
Net Assets, beginning of year | 3,732,853 | 2,851,667 | 783,228 |
Long-term liabilities | $1,383,859 | ||
Contributions receivable | 1,238,657 | ||
Expensessupport | 882,937 | ||
Net assets released from restriction | 337,833 | ||
Cash | 438,654 | ||
Payables | 827,938 | ||
Expensesprogram | 3,658,933 | ||
Investments | 984,688 | ||
Depreciation expense | 153,852 | ||
PPE, net | 7,339,456 |
Center for Cardio Research Consolidated Statement of Activities | |||||
---|---|---|---|---|---|
Unrestricted | Temporarily Restricted | Permanently Restricted | Total | ||
Operating revenues and gains: | |||||
Contributions: | |||||
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | $Answer | $Answer | $Answer | $Answer | |
Revenues--investment | Answer | Answer | Answer | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | Answer | Answer | Answer | |
Total operating revenues and gains | Answer | Answer | Answer | Answer | |
Operating expenses: | |||||
Program services: | |||||
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | Answer | Answer | Answer | |
Supporting services: | |||||
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | Answer | Answer | Answer | |
Depreciation expense | Answer | Answer | Answer | Answer | |
Total supporting services | Answer | Answer | Answer | Answer | |
Total operating expenses | Answer | Answer | Answer | Answer | |
Change in net assets from operations | Answer | Answer | Answer | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | Answer | Answer | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | $Answer | $Answer | $Answer | $Answer |
Center for Cardio Research Consolidated Statement of Financial Position | ||
---|---|---|
Assets: | ||
Current assets: | ||
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | $Answer | |
Investments | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | |
Total current assets | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | |
Total assets | $Answer | |
Liabilities and Net Assets | ||
Current liabilities: | ||
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | $Answer | |
Long-term liabilities | Answer | |
Total liabilities | Answer | |
Net Assets: | ||
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | |
AnswerCashInvestmentsContributions receivablePPE, netPayablesLong-term liabilitiesNet assets--unrestrictedNet assets--temporarily restrictedNet assets--permanently restrictedRevenues--contributionsRevenues--investmentNet assets released from restrictionExpenses--programExpenses--supportDepreciation expenseNet assets, end of yearNet assets, beginning of year | Answer | |
Total net assets | Answer | |
Total liabilities and net assets | $Answer |
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