Question

Question #1: Completion of Annual statement 13 (points for correct categorization of Revenue, Expenses and calculations) Complete an Annual statement of Revenue and Expenses with the following information: Office Supplies $1500.00 Rent $12,300.00 Payroll $153,984.00 Insurance $3,800.00 Donations $13,500.00 Internet $13,000.00 Phones $900.00 Bank charges S673.00 Audit $12,000.00 Government funding $180,000.00 Book sales S550.00 Sponsorships $3,000.00 Travel $1.483.00 Membership fees $550.00 Professional development S3500.00 Workshop fees $9,500.00 Fundraising $16,450.00 Photocopier lease $1800.00 Postage $445.00 Computers/technology $5,380.00 Promotions $462.00 Board/Committee Expenses $135.00 Miscellaneous Income $50.00 Resources $678.00 Contractors $8900.00 Revenue Total Income Expenses

Answer 1

Revenue
Description	Amt ($)
Donations	13,500
Government Funding	180,000
Book Sales	550
Fund raising	16,450
Miscelleneous Income	50
Resources	678
Total Income	211,228
Expenses
Description	Amt ($)
Office supplies	1,500
Rent	12,300
Payroll	153,984
Insurance	3,800
Internet	13,000
Phones	900
Bank charges	673
Audit	12,000
Sponsorships	3,000
Travel	1,483
Membership Fees	550
Professional Development	3,500
Workshop fees	9,500
Photocopier lease	1,800
Postage	445
Computers/Technology Promotions	5,380
Board/Committee Expenses	135
Contractors	8,900
Total Expenses	232,850
Balance Net Profit or (Loss)	(21,622)

It has been assumed that:

1. Resources are income

2. Contractors are payments to contractors therefore expense

3. Scholarships are payments for scholarships i.e., expense

In case the same is not true kindly amend the answer accordingly.