The following is the preclosing trial balance for Allen University as of June 30, 2023. Additional information related to net assets and the statement of cash flows is also provided. ALLEN UNIVERSITY Preclosing Trial Balance June 30, 2023 Cash and Cash Equivalents Investments Tuition and Fees Receivable Allowance for Doubtful Accounts Pledges Receivable Allowance for Doubtful Pledges Property, Plant, and Equipment Accumulated Depreciation Accounts Payable Accrued Liabilities Deposits Held in Custody for Others Deferred Revenue Bonds Payable Net Assets-Without Donor Restrictions Net Assets-with Donor Restrictions Debits Credits $ 520,020 3,223,000 374,700 $ 76,060 224,380 79,460 2,208,980 662,570 103,630 40,800 19,110 67,590 862,000 3,173,160 1,437,700 Net Assets Released from Restrictions-With Donor Restrictions Net Assets Released from Restrictions-Without Donor Restrictions Tuition and Fees 464,400 464,400 1,294,040 Tuition and Fees Discount and Allowances Contributions-Without Donor Restrictions Contributions-With Donor Restrictions 328,000 Grants and Contracts-With Donor Restrictions Investment Income-Without Donor Restrictions Investment Income-With Donor Restrictions Other Revenue Auxiliary Enterprise Sales and Services Gain on Sale of Investments Unrealized Gain on Investments Instruction Expense Research Expense Academic Support Expense Student Services Expense Institutional Support Expense Auxiliary Enterprise Expenses Total 313,670 338,610 327,460 53,680 31,600 13,700 158,900 72,200 574,390 1,109,330 644,100 295,660 262,100 278,760 231,300 $10,164,730 $10,164,730 Additional Information Net assets released from donor restrictions totaled $464,400. The gain resulting from sale of investments was unrestricted. Thirty percent of the unrealized gain is related to net assets restricted for programs, with the remainder related to net assets without donor restrictions. Additional information is as follows: The balance in cash and cash equivalents as of July 1, 2022, was $923,330. Tuition and Fees Receivable increased by $13,600. Pledges Receivable decreased by $2,080. Allowance for Doubtful Accounts was increased by $990 (the bad debt increased Institutional Support Expense). Accounts Payable decreased by $3,780. Accrued Liabilities decreased by $1.510. Deferred Revenue increased by $8,370. . Depreciation Expense was $40,530. . Cash of $155,000 was used to retire bonds. Investments were sold for $2,325,000 (at a gain of $72,200) and others were purchased for $1,937,500. Net assets without donor restrictions were used to purchase equipment at a cost of $51,300. Revenues and Gains: Total Revenues and Gains Expenses and Losses: Educational and General Expense: ALLEN UNIVERSITY Statement of Activities Year Ended June 30, 2023 Total Educational and General Expense Total Expenses and Losses Total Change in Net Assets Net Assets, Beginning of the Year Net Assets, End of the Year Without Donor Restrictions With Donor Restrictions Total