Question
Using below trial balance, create a Statement of Financial Position, Statement of Activities and Statement of Cash Flows. Statement of Activities: a) Salaries and Fringe
Using below trial balance, create a Statement of Financial Position, Statement of Activities and Statement of Cash Flows.
Statement of Activities:
a) Salaries and Fringe Benefit Expenses were allocated to Program Services and Supporting Expenses in the following percentages:
i) Program 1: 40%
ii) Program 2: 20%
iii) Program 3: 10%
iv) Management and General 20%
v) Fund Raising: 10%
b) Rent and Utility, Supplies, Printing and Publishing, and Telephone and Postage Expenses were allocated in the same manner as Salaries and Fringe Benefit Expenses.
c) Depreciation Expense was divided equally to each functional expense category.
Trial Balance as of 12/31/18 Debit Credit $156,500 41,000 Cash Pledges Receivable-Without Donor Restrictions Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions-Programs Net Assets With Donor Restrictions-Permanent Endowment Contributions-Without Donor Restrictions Contributions-With Donor Restrictions-Programs Investment Income-Without Donor Restrictions Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense Totals $4,100 2,800 178,000 210,000 120,000 20,520 196,500 50,500 140,000 378,820 38,100 11,200 30,000 4,190 32,000 288,410 5,940 4,500 6,400 959,740 $959,740 Trial Balance as of 12/31/18 Debit Credit $156,500 41,000 Cash Pledges Receivable-Without Donor Restrictions Estimated Uncollectible Pledges Inventory Investments Furniture and Equipment Accumulated Depreciation-Furniture and Equipment Accounts Payable Net Assets Without Donor Restrictions Net Assets With Donor Restrictions-Programs Net Assets With Donor Restrictions-Permanent Endowment Contributions-Without Donor Restrictions Contributions-With Donor Restrictions-Programs Investment Income-Without Donor Restrictions Depreciation Expense Printing and Publishing Expense Rent and Utility Expense Salaries and Fringe Benefit Expense Supplies Expense Telephone and Postage Expense Utilities Expense Totals $4,100 2,800 178,000 210,000 120,000 20,520 196,500 50,500 140,000 378,820 38,100 11,200 30,000 4,190 32,000 288,410 5,940 4,500 6,400 959,740 $959,740
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