Question
The not-for-profit organization Accountants Ja Rule has a mission to promote the accounting profession in the local community. It is heavily supported by local accounting
The not-for-profit organization Accountants Ja Rule has a mission to promote the accounting profession in the local community. It is heavily supported by local accounting firms and businesses seeking to increase the number of individuals entering the profession. Following is the pre-closing trial balance for the organization.
| Debit |
| Credit | ||||
Cash and cash equivalents | $ | 1,970 |
|
|
|
|
|
Investments | $ | 5,210 |
|
|
|
|
|
Pledges receivable | $ | 1,660 |
|
|
|
|
|
Allowance for uncollectible pledges |
|
|
|
| $ | 70 |
|
Accounts payable and accrued liabilities |
|
|
|
| $ | 2,180 |
|
Net assets without donor restrictions |
|
|
|
| $ | 2,534 |
|
Net assets with donor restrictions |
|
|
|
| $ | 4,296 |
|
Contributionswithout donor restrictions |
|
|
|
| $ | 6,920 |
|
Contributionswith donor restrictions |
|
|
|
| $ | 3,440 |
|
Interest incomewithout donor restrictions |
|
|
|
| $ | 110 |
|
Net assets releasedsatisfaction of program restrictionwithout donor restrictions |
|
|
|
| $ | 3,700 |
|
Net assets releasedsatisfaction of program restrictionwith donor restrictions | $ | 3,700 |
|
|
|
|
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Outreach expenses | $ | 5,600 |
|
|
|
|
|
College recruitment expenses | $ | 3,910 |
|
|
|
|
|
Management and general expenses | $ | 850 |
|
|
|
|
|
Fund-raising expenses | $ | 350 |
|
|
|
|
|
Total | $ | 23,250 |
|
| $ | 23,250 |
|
Prepare a statement of activities for the organization for the year ended December 31, 2020.
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