The Puck School (TPS) is a private, not for profit pre school that operates all year long It concluded FY 2013 with the following account balances Accounts Payable 0 Accounts Receivable 237,500 Cash 25,000 PP E, net 300,000 Inventory 1,500 Investments 125,000 Pledges Receivable, net 0 Unearned Revenue 500 Unrestricted Net Assets 621,500 Wages Payable 67,000 TPS experienced the following financial events during FY 2014, which ended December 31, 2014 TPS sent each of its students a $2,500 tuition bill on the last day of each quarter Quarterly tuition was $2,375 in FY 2013 There were 100 students enrolled in TPS in FY 2013 and in FY 2014, and TPS receives payments 1 month after tuition is billed TPS held its annual fundraiser December 1 It received $50,000 in pledges, of which $40,000 was collected by the end of the year TPS expects 90 of the $10,000 in outstanding pledges from the fundraiser will be collected in FY 2015 the remaining 10 has been deemed uncollectible On the first day of FY 2014, 10 parents paid $50 each to join TPSs parent teacher association (PTA) On the first day of FY 2013, 20 parents paid $50 each to join the PTA All PTA memberships last 2 years, and membership benefits are spread evenly between the two years TPS recorded annual depreciation for its building and equipment, which had (as of January 1) a net book value of $300,000, no salvage value, and a remaining useful life of 5 years TPS received $500 in donated school supplies In addition, TPS purchased $500 in supplies on account in December TPS used a total of $1,000 in supplies during FY 2014 TPS earned a 10 return on its investments No investments were bought or sold TPSs full time teachers and administrative staff earned $50,000 monthly, plus benefits valued at 30 of their salaries Both salary and benefit levels were unchanged from FY 2013 Full time employees are paid with a one month lag Use Full time salaries and benefits as appropriate in the financial statements Each of TPSs 10 part time teaching assistants earned $13 per hour, and each worked 500 hours throughout the year In FY 2013, part time teaching assistants earned the same wage and worked the same number of hours, but there were only 8 teaching assistants instead of 10 Part time employees are paid every two weeks, with a two week lag Use Part time wages as appropriate in the financial statements The Puck School Statements of Financial Position As of December 31, 2014 and 2013 2014 2013 Assets Cash 25000 237500 Accounts receivable Pledges receivable, net Inventory Investments 1500 125000 300000 689000 PP E, net Total Assets Liabilities 67000 Wages payable Accounts payable Unearned revenue Total Liabilities 500 67500 Total Net Assets 621500 Total Liabilities and Net Assets 689000 The Puck School Statement of Activities For the Year Ending December 31, 2014 Revenues and support Tuition Donations Unrealized gains PTA memberships In kind donations Total Revenues and Support Expenses Full time salaries and benefits Part time wages Depreciation Bad debts Supplies Total Expenses Change in net assets Net assets beginning of year Net assets end of year Enter the following numbers from your Cash Flow Statement Use a hyphen or dash to indicate negative numbers A) Net Cash from Operating Activities $ B) Net Cash from Investing Activities $ C) Net Cash from Financing Activities $ D) Net Change in Cash $ The Puck School Statements of Financial Position As of December 31, 2014 and 2013 2014 2013 Assets Cash 25000 237500 Accounts receivable Pledges receivable, net Inventory Investments 1500 125000 300000 689000 PP E, net Total Assets Liabilities 67000 Wages payable Accounts payable Unearned revenue Total Liabilities 500 67500 Total Net Assets 621500 Total Liabilities and Net Assets 689000 The Puck School Statement of Activities For the Year Ending December 31, 2014 Revenues and support Tuition Donations Unrealized gains PTA memberships In kind donations Total Revenues and Support Expenses Full time salaries and benefits Part time wages Depreciation Bad debts Supplies Total Expenses Change in net assets Net assets beginning of year Net assets end of year Enter the following numbers from your Cash Flow Statement Use a hyphen or dash to indicate negative numbers A) Net Cash from Operating Activities $ B) Net Cash from Investing Activities $ C) Net Cash from Financing Activities $ D) Net Change in Cash $

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The Puck School (TPS) is a private, not-for-profit pre-school that operates all year long. It concluded FY 2013 with the following account balances: Accounts Payable

The Puck School (TPS) is a private, not-for-profit pre-school that operates all year long. It concluded FY 2013 with the following account balances:

Accounts Payable	0
Accounts Receivable	237,500
Cash	25,000
PP&E, net	300,000
Inventory	1,500
Investments	125,000
Pledges Receivable, net	0
Unearned Revenue	500
Unrestricted Net Assets	621,500
Wages Payable	67,000

TPS experienced the following financial events during FY 2014, which ended December 31, 2014:

TPS sent each of its students a $2,500 tuition bill on the last day of each quarter. Quarterly tuition was $2,375 in FY 2013. There were 100 students enrolled in TPS in FY 2013 and in FY 2014, and TPS receives payments 1 month after tuition is billed.
TPS held its annual fundraiser December 1. It received $50,000 in pledges, of which $40,000 was collected by the end of the year. TPS expects 90% of the $10,000 in outstanding pledges from the fundraiser will be collected in FY 2015; the remaining 10% has been deemed uncollectible.
On the first day of FY 2014, 10 parents paid $50 each to join TPSs parent-teacher association (PTA). On the first day of FY 2013, 20 parents paid $50 each to join the PTA. All PTA memberships last 2 years, and membership benefits are spread evenly between the two years.
TPS recorded annual depreciation for its building and equipment, which had (as of January 1) a net book value of $300,000, no salvage value, and a remaining useful life of 5 years.
TPS received $500 in donated school supplies. In addition, TPS purchased $500 in supplies on account in December. TPS used a total of $1,000 in supplies during FY 2014.
TPS earned a 10% return on its investments. No investments were bought or sold.
TPSs full-time teachers and administrative staff earned $50,000 monthly, plus benefits valued at 30% of their salaries. Both salary and benefit levels were unchanged from FY 2013. Full-time employees are paid with a one-month lag. [Use Full-time salaries and benefits as appropriate in the financial statements.]
Each of TPSs 10 part-time teaching assistants earned $13 per hour, and each worked 500 hours throughout the year. In FY 2013, part-time teaching assistants earned the same wage and worked the same number of hours, but there were only 8 teaching assistants instead of 10. Part-time employees are paid every two weeks, with a two-week lag. [Use Part-time wages as appropriate in the financial statements.]

The Puck School Statements of Financial Position As of December 31, 2014 and 2013 2014 2013 Assets Cash 25000 237500 Accounts receivable Pledges receivable, net Inventory Investments 1500 125000 300000 689000 PP&E, net Total Assets Liabilities 67000 Wages payable Accounts payable Unearned revenue Total Liabilities 500 67500 Total Net Assets 621500 Total Liabilities and Net Assets 689000 The Puck School Statement of Activities For the Year Ending December 31, 2014 Revenues and support Tuition Donations Unrealized gains PTA memberships In-kind donations Total Revenues and Support Expenses Full-time salaries and benefits Part-time wages Depreciation Bad debts Supplies Total Expenses Change in net assets Net assets-beginning of year Net assets-end of year Enter the following numbers from your Cash Flow Statement: [Use a hyphen or dash to indicate negative numbers] A) Net Cash from Operating Activities $ B) Net Cash from Investing Activities $ C) Net Cash from Financing Activities $ D) Net Change in Cash $ The Puck School Statements of Financial Position As of December 31, 2014 and 2013 2014 2013 Assets Cash 25000 237500 Accounts receivable Pledges receivable, net Inventory Investments 1500 125000 300000 689000 PP&E, net Total Assets Liabilities 67000 Wages payable Accounts payable Unearned revenue Total Liabilities 500 67500 Total Net Assets 621500 Total Liabilities and Net Assets 689000 The Puck School Statement of Activities For the Year Ending December 31, 2014 Revenues and support Tuition Donations Unrealized gains PTA memberships In-kind donations Total Revenues and Support Expenses Full-time salaries and benefits Part-time wages Depreciation Bad debts Supplies Total Expenses Change in net assets Net assets-beginning of year Net assets-end of year Enter the following numbers from your Cash Flow Statement: [Use a hyphen or dash to indicate negative numbers] A) Net Cash from Operating Activities $ B) Net Cash from Investing Activities $ C) Net Cash from Financing Activities $ D) Net Change in Cash $