Heather's Hope, a nongovernmental NFP that raises money for children experiencing long-term hospitalization, had the following transactions during the year just ended:
Complete the statement of activities for Heather's Hope for the year just ended. Enter the appropriate amounts in the designated cells below. Enter all amounts as positive values. If no entry is necessary, enter a zero (0).
Line item |
Amount |
1. Operating revenues -- net assets without donor restrictions | |
2. Operating revenues -- net assets with donor restrictions | |
3. Operating revenues from the split-interest agreement if it is revocable | |
4. Operating expenses -- program services | |
5. Operating expenses -- supporting activities |
1. Operating revenues -- net assets without donor restrictions | 3120 |
2. Operating revenues -- net assets with donor restrictions | 3380 |
3. Operating revenues from the split-interest agreement if it is revocable | 0 |
4. Operating expenses -- program services | 2666.667 |
5. Operating expenses -- supporting activities | 5333.333 |
Heather's Hope, a nongovernmental NFP that raises money for children experiencing long-term hospitalization, had the following...
Heather's Hope, a nongovernmental NFP that raises money for children experiencing long-term hospitalization, had the following transactions during the year just ended: A donor irrevocably gave $100,000 cash to be held in trust by Heather's Hope and invested. The donor was to receive all revenue generated by the investments during her lifetime. Upon her death, the entire bequest may be spent at the discretion of the NFP's governing board. The investments earned $6,500 of interest during the year, and this...
The University of Danville is a private not-for-profit university that starts the current year with $700,000 in net assets: $400,000 without donor restrictions and $300,000 with donor restrictions. The $300,000 is composed of $200,000 with purpose restrictions and $100,000 that must be held permanently. The following transactions occurred during the year. Charged students $1.2 million for tuition and fees. Received a donation of equity investments that had cost the owner $100,000 but is worth $300,000 currently. According to the terms...
2 A local private not-for-profit health care entity (Rochester Medical) incurred the following transactions during the current year. The entity has one program service (health care) and two supporting services (fundraising and administrative). 5.66 points eBook Print a. The board of governors for Rochester Medical (RM) announces that $160,000 in previously unrestricted cash will be used in the near future to acquire equipment. These funds are invested until the purchase eventually occurs. b. RM receives a donation of $80,000 in...
A local private not-for-profit health care entity (Rochester Medical) incurred the following transactions during the current year. The entity has one program service (health care) and two supporting services (fundraising and administrative). The board of governors for Rochester Medical (RM) announces that $160,000 in previously unrestricted cash will be used in the near future to acquire equipment. These funds are invested until the purchase eventually occurs. RM receives a donation of $80,000 in cash with the stipulation that the money...
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