The following information pertains to United Ways, a private voluntary health and welfare organization, for the year ended December 31, 20X3. Balances in net assets at January 1, 20X3 Temporarily restricted Permanently restricted $3,003,000 5,013,000 6,019,000 The following transactions occurred during the year ended December 31, 20X3: 1. Received cash donations of $519,000 from donors who did not place any time or purpose restrictions on hem. 2. Received $1,010,000 of pledges from donors to be received in 20X4: it was estimated that 4 percent of the pledges would not be collected. Donors did not place any restrictions on the use of their pledges. 3. Eamed investment income of $211,000 on endowment investments that donors permanently restricted for research activities. 4. Designated $242,000 of the $514,000 of cash donations recelved in 20X3 for computer acquisitions. 5. Spent $157,000 of the $211,000 of investment income carned on endowment investments on research during the year ended December 31, 20X3. (This amount is included in the $250,400 for research expense s shown in the following table.) 6. Acquired S119,000 of equipment from donations made in 20X2 that donors had restricted for that purchase. The governing board of United Ways reports acquisitions of capital assets as unrestricted. 7. Received donated audit services from the organization's accounting firm that would have cost $16,900. 8. Learned that the fair value of endowment investments was $616,000 higher at the end of 20X3 than at the beginning, United Ways did not acquire or sell any endowment investments during 20x3 and treats gains and losses on endowment investments as permanenty restricted. 9. Incurred program and supporting services expenses during 20X3 as follows (depreciation expense for 20x3 has been properly allocated to the functional expenses): $ 250,400 100,600 150,700 Management and general (does not include the audit that was donated) 124,500 115,400 Public health education Community services Fund-Raising Required: Prepare a statement of activities for United Ways for the year ended December 31, 20X3. (Negative values should be entered with a minus sign.) UNITED WAYS Statement of Activities For the Year Ended December 31, 20X3 Unrestricted Restricted Total Revenues, gains and other support Net assets released from restriction: Total revenues, gains and other support Program and supporting services expenses: Total expenses Net assets, beginning of the year Net assets, end of the year The following information pertains to United Ways, a private voluntary health and welfare organization, for the year ended December 31, 20X3. Balances in net assets at January 1, 20X3 Temporarily restricted Permanently restricted $3,003,000 5,013,000 6,019,000 The following transactions occurred during the year ended December 31, 20X3: 1. Received cash donations of $519,000 from donors who did not place any time or purpose restrictions on hem. 2. Received $1,010,000 of pledges from donors to be received in 20X4: it was estimated that 4 percent of the pledges would not be collected. Donors did not place any restrictions on the use of their pledges. 3. Eamed investment income of $211,000 on endowment investments that donors permanently restricted for research activities. 4. Designated $242,000 of the $514,000 of cash donations recelved in 20X3 for computer acquisitions. 5. Spent $157,000 of the $211,000 of investment income carned on endowment investments on research during the year ended December 31, 20X3. (This amount is included in the $250,400 for research expense s shown in the following table.) 6. Acquired S119,000 of equipment from donations made in 20X2 that donors had restricted for that purchase. The governing board of United Ways reports acquisitions of capital assets as unrestricted. 7. Received donated audit services from the organization's accounting firm that would have cost $16,900. 8. Learned that the fair value of endowment investments was $616,000 higher at the end of 20X3 than at the beginning, United Ways did not acquire or sell any endowment investments during 20x3 and treats gains and losses on endowment investments as permanenty restricted. 9. Incurred program and supporting services expenses during 20X3 as follows (depreciation expense for 20x3 has been properly allocated to the functional expenses): $ 250,400 100,600 150,700 Management and general (does not include the audit that was donated) 124,500 115,400 Public health education Community services Fund-Raising Required: Prepare a statement of activities for United Ways for the year ended December 31, 20X3. (Negative values should be entered with a minus sign.) UNITED WAYS Statement of Activities For the Year Ended December 31, 20X3 Unrestricted Restricted Total Revenues, gains and other support Net assets released from restriction: Total revenues, gains and other support Program and supporting services expenses: Total expenses Net assets, beginning of the year Net assets, end of the year
