Question

9. The Kare Counseling Center was incorporated as a not-for-profit voluntary health and welfare organization 10 years ago. Its adjusted trial balance as of June 30, 2020, follows.

Debits $126,500 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 Net Assets Released from Restrictions-With Donor Restrictions Net Assets Released from Restrictions-Without Donor Restrictions Salaries and Fringe Benefit Expense Occupancy and utility Expense Supplies Expense Printing and Publishing Expense Telephone and Postage Expense Unrealized Gain on Investments Depreciation Expense $ 4,100 2,800 178,000 210,000 120,000 20,520 196,500 50,500 140,000 348,820 38,100 9,200 22,000 22,000 288,41 38,400 6,940 4,190 3,500 2,000 30-000 Totals $951,740 951,740 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

Answer 1

Date.IPage no. lati mauri Cosh los 10 3o6 0,300 R88 410 eaid oemploys osh Havid lasti dlours teterm gruvalana atbit.illǐ Losh tnanina UA 8loo Cash July , 2oig ash n 30 00 (38814 6S31y 126S00 2019-4-10 10:21

2019-4+10 10:25