W&V is a non profit organization whose mission is to provide service and help the blind, deaf and mute, December 31, 2019, it presented the following ADJUSTED trial balance, before year end closing entries: Credit 1 158 472 075 175 000 279 840 80 368 428 516 45339 48 395 105 952 302 2019 Account # Description Debit 101 Cash 23 166 102 Accounts receivable 242 204 103 Allowance for doubtful accounts 104 Prepaid expenses 4 259 105 Property plant & equipment 638 913 106 Accumulated depreciation 201 Bank loan 202 Accounts payable 203 Salaries and remittance payable 204 Miscellanous loans 205 Current portion of long term debt 206 Long term debt 301 Invested in capital assets opening Unrestricted - opening 716 617 401 Government grants 402 Donations contnbutions 403 Service revenue 404 Other revenues 501 Salaries and remittance 1 206 739 502 Professional fees 190 175 503 Rent 174 442 399089 504 Depreciation 29905 505 Traveling 50 480 506 Telecommunication Office supplies 61013 508 Insurance 16958 909 1158 510 Bad debit 16 550 Marketing 512 Interest and bankees 465 591 1 067 190 102 209 643241 36 308 307 3465597 December 31, 2020, its following year end, V&V presents the following UNADJUSTED trial balance: Credit 1 158 472 075 25 000 559 072 23 754 219 445 149 273 126 118 166 884 2020 Account # Description Debit 101 Cash 126 793 102 Accounts receivable 192 660 103 Allowance for doubtful accounts 104 Prepaid expenses 4 461 105 Property, plant & equipment 638 913 106 Accumulated depreciation 201 Bank loan 202 Accounts payable 203 Salaries and remittance payable 204 Miscellanous loans 205 Current portion of long term debt 206 Long term debt 301 Invested in capital assets - Opening 302 Unrestricted opening 769 034 401 Government grants 402 Donations/contributions 403 Service revenue 404 Other revenues 501 Salaries and remittance 986 619 502 Professional fees 237 291 503 Rent 181 484 504 Depreciation 505 Traveling 20 726 506 Telecommunication 72 950 507 Office supplies 48 854 508 Insurance 11 213 509 Training 6 946 510 Bad debt 511 Marketing 15 741 512 Interest and bank lees 91782 3 405 467 794 809 176 109 647 127 44 643 - 3 405 467 In 2020, the following activities occured and the related journal entries were not yet recorded as of December 31, 2020 1. On March 19, 2020, V&V bought a new computer equipments for a total amount of 33 153$. This amount was internaly restricted for that particular purpose 2- This computer equipment bought by V&V is depreciated using the straight line method over a period of 3 years. As of December 31, 2020 the computer equipment of 139135 as of December 31, 2019 (prior to the purchase of the new computer equipment in 1.) is fully 3. V&V got a confirmation of a provincial government grant of 125 000$ in September 2020. They estimate they will received a check for payment of the grant money in March 2021. There are no restriction on this grant 4. V&V estimated that 50 973$$ of their accounts receivable for 2020 have small chance of being recovered. 5. In February 2020, V&V received a promise for a donation of 10 000 from its founder. It was paid cash to V&V in November 2020. There was no restriction on this donation 6. V&V received a restricted contribution (donation of 75 0005 on January 1, 2020 for building renovations that will increase its useful life The renovation were completed January 31, 2020, Die ADDITIONAL INFORMATION Property, plant & equipment details as of December 31, 2019 is as follow Property, plant & equipment - 2019 Cost 1395 Computer equipment Office equipment Building Accumulated Net Book Value Depreciation method depreciation T01280 033 Straight years 36944 13700 Declining method - 203 424302 150 748 Dediming method 412076 766637 575000 REQUIRED REQUIRED: A) B) C) D) E) Prepare V&V December 31, 2019 year end's balance sheet and income statement; Set up the listed T-accounts for 2020 and prepare journal entries related to the activities not yet recorded as of December 31, 2020 Journalized and post 2020's unrecorded journal entries into your T-accounts: Prepare the ADJUSTED trial balance as of December 31, 2020 Prepare comparative balance sheet income statement and statement of change in net asset as of December 31, 2020 showing the comparative balances as of December 31, 2019 (first column for 2020 et and second column for 2019, for each statements) Take into account that the opening balance of Invested in capital assets in 2019 is 105 9525 (credit balance) and Unrestrited is 716 617 (debit balance) as outlined in the adjusted trial balance as of December 31, 2019 shown above; Prepare the net book value details of Property, plant and equipment on the same format as shown for 2019 in the unrecorded activity 7 above. Provide your answer in the same format. Using your comparative statements prepared in E), prepare the statement of cash flow as of December 31, 2020 You do not need to present the comparative figures as of December 31, 2019 in the cash flow statement. After closing the accounts, prepare the closing trial balance as of December 31, 2020 (or the opening triat balance as of January 1, 2021), F) G H)