how would i solve the contribution revenuesHomework Answers
The completed statement of activities is provided as follows:
| CENTERVILLE AREA HOMELESS SHELTER | |||
| Statement of Activities | |||
| For the Year Ended December 31, 2020 | |||
|
Net Assets without Donor Restrictions |
Net Assets with Donor Restrictions |
Total | |
| Revenues | |||
| Contribution Revenues | 1,528,800 | 53,710 | 1,582,510 |
| Net Assets Released from Restrictions | 27,000 | -27,000 | 0 |
| Total Revenues | 1,555,800 | 26,710 | 1,582,510 |
| Expenses | |||
| Temporary Shelter Program | 1,028,100 | 0 | 1,028,100 |
| Self-Sufficiency Program | 365,000 | 0 | 365,000 |
| Fund Raising | 7,750 | 0 | 7,750 |
| Administration | 70,950 | 0 | 70,950 |
| Total Expenses | 1,471,800 | 0 | 1,471,800 |
| Increase in Net Assets | 84,000 | 26,710 | 110,710 |
| Net Assets January 1 | 21,000 | 14,350 | 35,350 |
| Net Assets December 31 | $105,000 | $41,060 | $146,060 |
_____
Notes:
The calculations are given as below:
Net Assets without Donor Restrictions
Total Revenues (Net Assets without Donor Restrictions) = Increase in Net Assets (Net Assets without Donor Restrictions) + Total Expenses (Net Assets without Donor Restrictions) = 84,000 + 1,471,800 = $1,555,800
Contribution Revenues (Net Assets without Donor Restrictions) = Total Revenues (Net Assets without Donor Restrictions) - Net Assets Released from Restrictions (Net Assets without Donor Restrictions) = 1,555,800 - 27,000 = $1,528,800
____
Net Assets with Donor Restrictions
Total Revenues (Net Assets with Donor Restrictions) = Increase in Net Assets (Net Assets with Donor Restrictions) + Total Expenses (Net Assets with Donor Restrictions) = 26,710 + 0 = $26,710
Contribution Revenues (Net Assets with Donor Restrictions) = Total Revenues (Net Assets with Donor Restrictions) - Net Assets Released from Restrictions (Net Assets with Donor Restrictions) = 26,710 - (-27,000) = $53,710
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how would i solve the contribution revenues
am i missing anythin?
Presented below is a partially...
i need help with the contribution revenue CENTERVILLE AREA HOMELESS SHELTER Sistetaan of Activities For tho...
i need help with the contribution revenue
CENTERVILLE AREA HOMELESS SHELTER Sistetaan of Activities For tho Yar Ended Docomber 31, 2020 Not Assets Net Assets without Donor with Donor Total Rostrictions Restrictions Revenues Contribution revenues $ 1,602,040 Net assets released from restrictions 31,500 (31,500) 0 Total revenues 31,500 12,170 1,602,040 Expenses Temporary shelter program 1,042,050 0 1,042,050 Self-sufficiency program 375,800 0 375,800 Fund raising 8,425 0 8,425 Administration 53,895 0 53,895 Total expenses 1,480,170 0 1,480,170 Increase in net assets...
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i need help with the contribution revenue
CENTERVILLE AREA HOMELESS SHELTER Sistetaan of Activities For tho Yar Ended Docomber 31, 2020 Not Assets Net Assets without Donor with Donor Total Rostrictions Restrictions Revenues Contribution revenues $ 1,602,040 Net assets released from restrictions 31,500 (31,500) 0 Total revenues 31,500 12,170 1,602,040 Expenses Temporary shelter program 1,042,050 0 1,042,050 Self-sufficiency program 375,800 0 375,800 Fund raising 8,425 0 8,425 Administration 53,895 0 53,895 Total expenses 1,480,170 0 1,480,170 Increase in net assets...
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Hello. I need help with parts b) and c) below.
Part b) is the "Statement of Activities." Can you tell me what
the correct amount should go into the "red x" that appears (explain
please)? Also, can you tell me if I am missing any revenue accounts
or expense accounts?
Part c) is the "Statement of Financial Position". Can you tell
me what the correct amounts should go into the "red x" that appears
(explain please)? Also, can you tell...
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