Steiner Colleges statement of financial position for the year ended June 30, 2022, is presented here. Steiner is a private college. STEINER COLLEGE Statement of Financial Position June 30, 2022 (amounts in thousands) Assets Cash and cash equivalents $ 734 Short-term investments 7,666 Tuition and fees receivable (net of doubtful accounts of $12) 230 Pledges receivable (net of doubtful accounts of $280) 5,872 Prepaid assets 1,364 Property, plant, and equipment (net of accumulated depreciation of $104,240) 281,404 Investments (at fair value, cost of $162,000) 158,400 Total assets $ 455,670 Liabilities and Net Assets Liabilities: Accounts payable and accrued liabilities $ 21,130 Deposits held in custody for others 700 Deferred revenue 900 Bonds payable 99,000 Total liabilities 121,730 Net Assets: Without donor restrictions $ 104,000 With donor restrictions 229,940 Total net assets 333,940 Total liabilities and net assets $ 455,670 The following transaction information (amounts in thousands) pertains to the year ended June 30, 2023. During the year, charges for tuition and fees were $244,500, scholarships were $16,300, and tuition waivers for scholastic achievement were $5,100. After payment was received, tuition refunds of $11,200 were given. Tuition waivers of $17,300 for students serving as teaching assistants for instruction were accrued. The college received cash contributions without donor restrictions of $2,080, pledges to be collected in 2024 of $550, and cash contributions to the endowments of $335. It also collected $820 of Pledges Receivable that were unrestricted. Collections on Tuition and Fees Receivable totaled $222,600. Net deposits returned to students totaled $10. Expenses were incurred for: Instruction $ 86,100 Academic support 23,300 Student services 37,700 Institutional support 28,500 Related to the expenses incurred: prepaid assets of $534 were used, $4,776 of the expenses were accrued, and the remaining expenses were paid. Expenses incurred resulted in the release of $7,320 in net assets with donor restrictions. The ending balance in Accounts Payable and Accrued Liabilities was $1,935. Investment earnings received for the period were $3,960, of which $2,070 was donor restricted for scholarships. Adjusting entries for the period were made to increase Allowance for Doubtful Accounts by $20, to record depreciation expense of $26,400 (charged 70 percent to instruction and 30 percent to academic support), to adjust tuition revenue for an increase in deferred revenue of $10, and to recognize an increase in fair value of investments of $4,700 ($790 was related to investments restricted for scholarships, $1,610 was related to the permanent endowment, and the remainder was related to net assets without donor restrictions). Nominal accounts were closed. a-1. Prepare journal entries to record the foregoing transactions for the year ended June 30, 2023.

1-Prepare closing entry for the year ended June 30, 2023. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in thousands.)

2-

Without Donor Restrictions	With Donor Restrictions	Total
Revenues and Gains:
not attempted	not attempted	not attempted	$0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
Total Revenues and Gains	0	0	0
Expenses and Losses:
Educational and General Expense:
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
not attempted	not attempted	not attempted	0
Total Expenses and Losses	0	0	0
Total Change in Net Assets	0	0	0
Net Assets, Beginning of the Year	not attempted	not attempted	0
Net Assets, End of the Year	$0	$0	$0

• 3-

  STEINER COLLEGE
  Statement of Financial Position
  June 30, 2023
  Assets
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  Total Assets	$0
  Liabilities and Net Assets
  Liabilities:
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  Total Liabilities	0
  Net Assets:
  not attempted	not attempted
  not attempted	not attempted
  not attempted	not attempted
  Total Net assets	0
  Total Liabilities and Net Assets	$0