The Science Road Show (SRS) is a not-for-profit organization that puts on traveling science demonstrations throughout the state. SRS operates on a September 1-August 31 fiscal year. The organization began FY 2018 with the following account balances:

Cash	40.000
Grants Receivable	100,000
Inventory	4,000
Notes Payable	50,000
Pledges Receivable, Net	10,000
PP&E, Net	75,000
Prepaid Rent	10,000
Unrestricted Net Assets	169,000
Wages Payable	20,000

The SRS recorded the following financial transactions during the FY 2018, which ended on August 31, 2018.

1. On September 1, SRS took out a $200,000 bank loan with an annual interest rate of 4.5%.SRSs prior outstanding loan has an annual interest rate of 6.0%.Annual interest payments on both loans are due August 31.

2. Halfway through the fiscal year, SRS used the new loan proceeds to purchase a new set that is expected to last 10 years and have no salvage value. SRS also recorded %5,000 in depreciation on its existing equipment, per its policy of recording depreciation annually.

3. On the first day of the fiscal year, SRS held a membership drive.Each 2-year membership is priced at $1,000 and entitles the member to benefits for 2 years.SRS sold an received payment for 50 memberships.

4. SRS sold $375,000 in tickets. All tickets were paid for in cash.

5. SRS received a $100,000 check for a foundation grant that was awarded in the previous fiscal years.At the end of FY 2018, SRS was awarded another $50,000 foundation grant.Payments on the second grant is expected in October 2018.

6. During the fiscal year, SRS received $60,000 in new donor pledges and collected 60% of the outstanding pledges from the previous fiscal year.Based on past experience, SRS expects that none of the remaining outstanding pledges from the prior fiscal year will be collected.

7. Throughout FY 2018, SRS ordered, paid for, and used $15,000 of program booklets.In August, SRS ordered (on account) $5,000 of programs for the following fiscal year.

8. SRSs employees earned $25,000 per month.Employees are paid with a 1-month lag.SRS also fully paid its prior-year obligations to employees.

9. Payments on SRSs leased vehicles and equipment are due 1 month in advance.In FY 2018, lease payments totaled $10,000 per month.In FY 2019, they will rise to $12,000 per month.

10. On August 31, in addition to making annual interest payments, SRS repaid the loan outstanding prior to FY 2018 in full.A $25,000 principle repayment on the loan taken out at the beginning of FY 2018 is due on September 1, 2018.

Record these events on the transactions worksheet using EXCEL and then create a 1)balance sheet, 2) activity statement, and 3) cash flow statement for FY 2018 on the pages that follow.

please solve this question with followed form!!!!!!!!!

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Example of the answer form)

Jan. 2.No journal entry.

Jan. 14

Asset = Liabilities + Net Assets

Cash

+$100,000

Pledges receivable

- $100,000

Feb. 19

Asset = Liabilities + Net Assets

Inventory Accounts payable

+$35,000 +$15,000

Cash

-$20,000

May 15

Asset = Liabilities + Net Assets

Deposit

+$30,000

Cash

-$30,000

July 12

Asset = Liabilities + Net Assets

Equipment

+$80,000

Deposit

-$30,000

Cash

-$50,000

Dec. 28

Asset = Liabilities + Net Assets

Cash Admission revenue

+$74,000 +$74,000

Dec. 28

Asset = Liabilities + Net Assets

Cash Wage payable Wage expense

-$68,000 -$2,000 -$73,000

Wage payable

+$7,000

Dec. 30

Asset = Liabilities + Net Assets

Cash Sales rev

+$56,000 (50,000+6,000) +53,000

Accounts receivable

-$6,000

Accounts receivable

+$3,000

Asset = Liabilities + Net Assets

Inventory Cost of goods sold

-$32,000 -$32,000

Dec. 31

Asset = Liabilities + Net Assets

Cash Notes payable Interest expense

-$134,000 -$127,000 -$7,000

Dec. 31

Asset = Liabilities + Net Assets

Building & equip. net Depreciation expense

-$60,000 -$60,000

Dec. 31

Asset = Liabilities + Net Assets

Account receivable, net Bad debt expense

-$1,000 -$1,000

Or

Asset = Liabilities + Net Assets

Allowance for Bad debt expense

Uncollectible Accounts

-$1,000 -$1,000

(000s omitted)	Assets						=	Liabilities				Net Asets
	Cash	Pledges Receivable	Accounts Receivable, Net	Inventory	Deposits	Building, Equipment, Net		Accounts Payable	Wages Payable	Notes Payable
Beginning Balance	$80	$320	$6	$0	$0	$550		$2	$2	$250			$702
Transaction #1
Transaction #2	100	(100)
Transaction #3	(20)			35				15
Transaction #4	(30)				30
Transaction #5	(50)				(30)	80
Transaction #6	74											Admission Revenue	74
Transaction #7	(68)								5			Wage Expense	(73)
Transaction #8	56		(3)									Sales revenue	53
				(32)								Cost of goods sold	(32)
Transaction #9	(134)									(127)		Interest Expense	(7)
Transaction #10						(60)						Depreciation Expense	(60)
Transaction #11			(1)									Bad debt Expense	(1)
Ending Balance	$8	$220	$2	$3	$0	$570	=	$17	$7	$123			$656

Activity Statement for the Year Ending December 31, 2005

Revenues and Support

Admission revenue $74,000

Sales or Gift Shop revenue 53,000

Total revenues and support $127,000

Expenses:

Cost of goods sold $32,000

Wage expense 73,000

Interest expense 7,000

Bad debts 1,000

Depreciation 60,000

Total expenses $173,000

Increase/decrease in net assets ($46,000)

Statement of Financial Position as of December 31, 2013 and 2012

Assets				Liabilities and Net Assets
	2013	2012			2013	2012
Current assets				Liabilities
Cash	$8,000	$80,000		Current liabilities
Accounts receivable, net of estimated uncollectibles $1,000 in 2005	2,000	6,000		Accounts payable	$17,000	$2,000
Pledges receivable	220,000	320,000		Wages payable	7,000	2,000
Inventory	3,000	0
Total current assets	$233,000	$406,000		Total current liabilities	$24,000	$4,000
Long-term assets				Long-term liabilities
Fixed assets				Notes payable	$123,000	$250,000
Buildings and Equipment, net	$570,000	$550,000		Total long-term liabilities	$123,000	$250,000
Total long-term assets	$570,000	$550,000		Total liabilities	$147,000	$254,000
				Net assets	$656,000	$702,000
				Total liabilities and Net assets	$803,000	$956,000
Total assets	$803,000	$956,000

Statement of Cash Flows for the Year Ending December 31, 2013

Cash flows from operating activities

Decrease in net assets $(46,000)

Add expenses not requiring cash

Depreciation 60,000

Other adjustments:

Add the decrease in receivables 4,000

Add the decrease in pledges receivable 100,000

Add the increase in wages payable 5,000

Add the increase in accounts payable 15,000

Subtract the increase in inventory (3,000)

Net cash from operating activities $135,000

Cash flows from investing activities

Purchase of equipment $(80,000)

Net cash from investing activities $(80,000)

Cash flows from financing activities

Repayments of notes $(127,000)

Net cash from financing activities $(127,000)

Net increase/decrease in cash $(72,000)

Cash, beginning of year 80,000

Cash, end of year 8,000

Cash flows from operations are positive and are substantial. Investments are also large.

Pledges receivable is decreased, implying that the organizations collection efforts have been modestly successful. In addition, long term liabilities is declined significantly. These are all positive signs for the organization.However, we may argue that there are some areas of concern. Particularly, the balance of net assets is greatly reduced over time. The organization generates a large decrease in net assets in 2006. For a more thorough analysis of the financial statements, a full scale of ration analysis is recommended.