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The not-for-profit organization Accountants Rule has a mission to promote the accounting profession in the local community. It is heavily supported by local accounting firms
The not-for-profit organization Accountants 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. In good form, prepare a statement of activities for the organization for the year ended December 31, 2017. | ||
debit | credit | |
cash andcash equivalents | 985 | |
investments | 2605 | |
pledges receivable | 830 | |
allowance for uncollectable pledges | 35 | |
acct paybale and accured liabilities | 1090 | |
unrestricted net assets | 1267 | |
temporary restricted net assets | 2148 | |
contributions unrestricted | 3460 | |
contributions temporarily restricted | 1720 | |
interest income-unrestricted | 55 | |
nets assets released-satisfaction of program restriction unrestricted | 1850 | |
net assets released-satisfaction of program restriction temporarily restricted | 1850 | |
outreach expenses | 2800 | |
college recruitment expense | 1955 | |
management and general expenses | 425 | |
fund raising expenses | 175 | |
total | 11625 | 11625 |
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