• Use the file Kare Trial Balance.pdf
  Actions
• Make sure to copy and paste the data you need into a new tab of the file you created above
• Categorize and Highlight the row across the top (Fund Names) by Without Donor Restrictions & With Donor Restriction.
• Prepare the statement using the account names and heading in the left side of the report.

Complete the Statement of Financial Position (Balance Sheet)

• Use the file provided
  Actions
  for a simple Statement of Financial Position.
• Make sure to copy and paste the data you need into a third tab in the file you created above.
• Make sure to show the Equipment account net of the accumulated depreciation.
• Net assets should come from the statement of activities.

1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: counseling services, 40 percent; professional training, 20 percent; community service, 10 percent; management and general, 20 percent; and fund-raising, 10 percent. Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were allocated to the programs in the same manner as salaries and fringe benefits. Depreciation expense was divided equally among all five functional expense categories. 2. The organization had $165,314 of cash on hand at the beginning of the year. During the year, the center received cash from contributors: $310,800 that was unrestricted and $38,100 that was restricted for the purchase of equipment for the center. It had $9,200 of income earned and received on long-term investments. The center spent cash of $288,410 on salaries and fringe benefits, $22,000 on the purchase of equipment for the center, and $86,504 for operating expenses. Other pertinent information follows: net pledges receivable increased $6,000, inventory increased $1,000, accounts payable decreased $102,594, and there were no salaries payable at the beginning of the year. Required a. Prepare a statement of financial position as of June 30, 2023, following the format in Illustration 14-5. b. Prepare a statement of expenses by nature and function for the year ended June 30, 2023, following the format in Illustration 14-8. c. Prepare a statement of activities for the year ended June 30, 2023, following the format in Illustration 14-6. d. Prepare a statement of cash flows for the year ended June 30,2023 , following the format in Illustration 14-7. 1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: counseling services, 40 percent; professional training, 20 percent; community service, 10 percent; management and general, 20 percent; and fund-raising, 10 percent. Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were 1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: counseling services, 40 percent; professional training, 20 percent; community service, 10 percent; management and general, 20 percent; and fund-raising, 10 percent. Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were allocated to the programs in the same manner as salaries and fringe benefits. Depreciation expense was divided equally among all five functional expense categories. 2. The organization had $165,314 of cash on hand at the beginning of the year. During the year, the center received cash from contributors: $310,800 that was unrestricted and $38,100 that was restricted for the purchase of equipment for the center. It had $9,200 of income earned and received on long-term investments. The center spent cash of $288,410 on salaries and fringe benefits, $22,000 on the purchase of equipment for the center, and $86,504 for operating expenses. Other pertinent information follows: net pledges receivable increased $6,000, inventory increased $1,000, accounts payable decreased $102,594, and there were no salaries payable at the beginning of the year. Required a. Prepare a statement of financial position as of June 30, 2023, following the format in Illustration 14-5. b. Prepare a statement of expenses by nature and function for the year ended June 30, 2023, following the format in Illustration 14-8. c. Prepare a statement of activities for the year ended June 30, 2023, following the format in Illustration 14-6. d. Prepare a statement of cash flows for the year ended June 30,2023 , following the format in Illustration 14-7. 1. Salaries and fringe benefits were allocated to program services and supporting services in the following percentages: counseling services, 40 percent; professional training, 20 percent; community service, 10 percent; management and general, 20 percent; and fund-raising, 10 percent. Occupancy and utility, supplies, printing and publishing, and telephone and postage expenses were