The December 31, 2012, statement of financial position for the Blood Donors of America

Foundation is presented below.

Statement of Financial Position

December 31, 2012

Assets

Cash....................$ 470,000

Accounts Receivable...............160,000

Allowance for Doubtful Accounts..........(30,000)

Pledges Receivable..............930,000

Allowance for Doubtful Pledges..........(130,000)

Inventories..................400,000

Investments.................19,300,000

Land....................1,300,000

Buildings and Improvements...........46,500,000

Equipment..................2,700,000

Accumulated Depreciation........... (13,500,000)

Other Assets..................200,000

Total Assets..................$58,300,000

Liabilities

Accounts Payable...........$ 700,000

Accrued Expenses...........130,000

Deferred Revenue—Unrestricted.......100,000

Deferred Capital Addition........1,600,000

Long-term Debt...........7,350,000

Total Liabilities...........9,880,000

Fund Balances

Plant..................29,000,000

Endowment................3,850,000

Restricted................7,300,000

Unrestricted................8,270,000

Total Fund Balances...........48,420,000

Total Liabilities and Fund Balances......$58,300,000

Additional information concerning the statement of financial position is as follows:

1. Except for $70,000 of cash, the Endowment Fund is made up of investments only. There are no liabilities.

2. The Plant Fund has no current liabilities and includes some investments and $15,000 in cash.

3. In addition to investments, the Current Restricted Fund consists of the pledges receivable, $35,000 of accounts payable, and cash of $155,000.

Required:

Prepare a corrected statement of financial position for the Blood Donors of America Foundation at December 31, 2012, using the following columnarformat:

Transcribed Image Text:

Current Unrestricted Restricted Plant Endmn Total Current (Account Titles