Statements for Current Funds of a Voluntary Health and Welfare Organization [AICPA Adapted]
Following are the adjusted current funds trial balances of Community Association for Handicapped Children, a voluntary health and welfare organization, on June 30, 20X4:
COMMUNITY ASSOCIATION FOR HANDICAPPED CHILDREN Adjusted Current Funds Trial Balances June 30, 20X4 | ||||
| Unrestricted | Restricted | ||
Debit | Credit | Debit | Credit | |
Cash | $ 40,000 |
| $ 9,000 |
|
Bequest Receivable |
|
| 5,000 |
|
Pledges Receivable | 12,000 |
|
|
|
Accrued Interest Receivable | 1,000 |
|
|
|
Investments (at market) | 100,000 |
|
|
|
Accounts Payable and Accrued Expenses |
| $ 50,000 |
| $ 1,000 |
Deferred Revenue |
| 2,000 |
|
|
Allowance for Uncollectible Pledges |
| 3,000 |
|
|
Fund Balances, July 1, 20X3: |
|
|
|
|
Designated |
| 12,000 |
|
|
Undesignated |
| 26,000 |
|
|
Restricted |
|
|
| 23,000 |
Transfers of Expired Endowment Fund Principal |
| 20,000 | 20,000 |
|
Contributions |
| 300,000 |
| 15,000 |
Membership Dues |
| 25,000 |
|
|
Program Service Fees |
| 30,000 |
|
|
Investment Income |
| 10,000 |
|
|
Deaf Children’s Program Expenses | 120,000 |
|
|
|
Blind Children’s Program Expenses | 150,000 |
|
|
|
Management and General Services | 45,000 |
| 4,000 |
|
Fund-raising Services | 8,000 |
| 1,000 |
|
Provision for Uncollectible Pledges | 2,000 |
|
|
|
Total | $478,000 | $478,000 | $39,000 | $39,000 |
Required
a. Prepare a statement of activities for the year ended June 30, 20X4.
b.Prepare a statement of financial position as of June 30, 20X4.
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