The following information was excerpted from the records of a nonprofit. All account balances are as of the fiscal year ended June 30, 2019, except for the net asset balances at the beginning of the year. Prepare a statement of activities for the nonprofit. Contribution revenue (without donor restrictions) $ 86,000 Contribution revenue (with donor restrictions) 80,000 Investment return, net (without donor restrictions) 5,000 Investment return, net (with donor restrictions) 15,000 Expenses-Program A 23,000 Expenses-Program B 26,000 Expenses-Management and general 4,000 Expenses-Fundraising 2,000 Net assets with donor restrictions-Reclassifications out- Satisfaction of program restrictions 17,000 Net assets without donor restrictions-Reclassifications in- Satisfaction of program restrictions 17,000 Net assets at beginning of year-without donor restrictions 80,000 Net assets at beginning of year-with donor restrictions 180,000 Use a negative sign with your answer for "Net assets released from restrictions.." - when applicable. Otherwise do not use negative signs with your answers.
The following information was excerpted from the records of a nonprofit. All account balances are as of the fiscal year ended June 30, 2019, except for the net asset balances at the beginning of the year. Prepare a statement of activities for the nonprofit. Contribution revenue (without donor restrictions) $ 86,000 Contribution revenue (with donor restrictions) 80,000 Investment return, net (without donor restrictions) 5,000 Investment return, net (with donor restrictions) 15,000 Expenses-Program A 23,000 Expenses-Program B 26,000 Expenses-Management and general 4,000 Expenses-Fundraising 2,000 Net assets with donor restrictions-Reclassifications out- Satisfaction of program restrictions 17,000 Net assets without donor restrictions-Reclassifications in- Satisfaction of program restrictions 17,000 Net assets at beginning of year-without donor restrictions 80,000 Net assets at beginning of year-with donor restrictions 180,000 Use a negative sign with your answer for "Net assets released from restrictions.." - when applicable. Otherwise do not use negative signs with your answers.
Chapter28: Income Taxati On Of Trusts And Estates
Section: Chapter Questions
Problem 16CE
Related questions
Question
100%
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you