Not for profit part two new beckers f6m2

7. A not-for-profit university receives a contribution without donor restrictions of $200,000. In its statement of cash flows, the contribution should be shown as a cash inflow from a. noncapital financing activities. b. capital financing activities. c. operating activities. d. investing activities.

Help & Save is a private not-for-profit entity that operates in Kansas. Swim For Safety is a private not-for- profit entity that operates in Missouri. The leaders of these two organizations have decided to combine forces on January 1, 2020, in order to have a bigger impact from their work. They are currently discussing ways by which this combination can be created. The following are statements of financial position for both charities at that date. HELP & SAVE Statement of Financial Position January 1, 2020 Assets Cash $1,800,000 110,000 400,000 800,000 $3,110,000 Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities $210,000 1,200,000 $1,410,000 Net Assets $1,300,000 400,000 $1,700,000 $3,110,000 Net assets without donor restrictions Net assets with donor restrictions Total net assets Total liabilities and net assets SWIM FOR SAFETY Statement of Financial Position January…

Help & Save is a private not-for-profit entity that operates in Kansas. Swim For Safety is a private not-for- profit entity that operates in Missouri. The leaders of these two organizations have decided to combine forces on January 1, 2020, in order to have a bigger impact from their work. They are currently discussing ways by which this combination can be created. The following are statements of financial position for both charities at that date. HELP & SAVE Statement of Financial Position January 1, 2020 Assets Cash $1,800,000 110,000 400,000 800,000 $3,110,000 Contributions receivable (net) Investments Buildings & equipment (net) Total assets Liabilities Accounts payable and accrued liabilities Notes payable Total liabilities $210,000 1,200,000 $1,410,000 Net Assets $1,300,000 400,000 $1,700,000 $3,110,000 Net assets without donor restrictions Net assets with donor restrictions Total net assets Total liabilities and net assets SWIM FOR SAFETY Statement of Financial Position January…

Determine the amount of revenue recognized for each of the following items and whether the revenue would be classified as net assets with donor restrictions or net assets without donor restrictions. 1. 77000 of promises to give to program activities. 2. 675000, services are donated that meet the recognition of services definition. 3. 274000 cash received. Restricted to 52000 for scholarships and the rest for acquisition of capital project. 4. 572000 of unconditional promises to give to support activities. 5. A donor contributes 729000 cash to set up a donor‐restricted endowment fund. The income is restricted to support program purposes. 6. A donor contributes cash to set up an annuity trust with a present value of 742000. Net assets with donor restrictions is 649000 Net assets without donor restrictions is 2420000.

M3.

The Senior League, a not-for-profit welfare agency, redeemed a $100,000 bond that it had held as an investment of resources without donor restrictions. It also received an interest payment of $6,000. In its statement of cash flows, the league should report： A.) $106,000 as a cash flow from investing activities B.) $106,000 as a cash flow from operating activities C.) $100,000 as a cash flow from investing activities and $6,000 as a cash flow from financing activities D.) $100,000 as a cash flow from investing activities and $6,000 as a cash flow from operating activities

Help me with this entry Journal entries for an Internal Service Fund The following transactions occurred regarding the Central Purchasing Fund, an Internal Service Fund.1. The General Fund transferred $160,000 as a capital contribution to establish the fund.2. The Central Purchasing Fund bills $320,000 for services it provided to other funds.3. The Central Purchasing Fund incurred depreciation expense of $80,000 and paid$400,000 in operating expenses.4. The General Fund subsidized the operations of the Purchasing Fund by transferring anadditional $160,000 to the fund.For each transaction, record the entry, if any, for each Fund. If no entry is required, select 'No debit (or credit) entry required' in the account field and enter 0 or leave the debit and credit fields blank.

B4

For each of the following transactions, determine the correct debit account from among the choices below: A.     Expenditures B.     Encumbrances C.     Property, Plant, and Equipment (Capital Assets) D.     Expenses E.     Appropriations F.     Other Financing Uses-Transfers Out G.    Extraordinary Item H.     Special Items I.        Liabilities J.      Answer not included in the above selections   A proprietary fund signs a contract to build an office building with Do Good Construction for $10,000,000 Answer 1 Question 3 A proprietary fund makes a currently due principal payment on Bonds Payable Answer 2 Question 3 A proprietary fund recognizes and pays an interest payment that is currently due Answer 3 Question 3 A proprietary fund spends $5,000,000 of a capital grant for construction of a parking garage. Assume eligibility has been met Answer 4 Question 3 A city’s water supply in a proprietary fund is contaminated by terrorists. Cost of clean up, disposal and…

ni.9

Shina township's financial transaction during the year as follows, Equipment purchased from restricted fund RO 25 million, Paid salary to government employees RO 5 million, Government grant RO 2 million. The amount that should report as expenditure in its general funds is  a. RO 5 million b. RO 30 million c. None of the options d. RO 25 million Shina township's financial transaction during the year as follows, Equipment purchased from restricted fund RO 25 million, Paid salary to government employees RO 5 million, Government grant RO 2 million. The amount that should report as expenditure in its general funds is  a. RO 5 million b. RO 30 million c. None of the options d. RO 25 million Shina township's financial transaction during the year as follows, Equipment purchased from restricted fund RO 25 million, Paid salary to government employees RO 5 million, Government grant RO 2 million. The amount that should report as expenditure in its general funds is  a. RO 5…

Topic: Accounting For Non-Profit Organization

Make the following entries related to a museum.The museum is a non-profit organization and had the following transactions during fiscal year 20X2:a. Received unrestricted cash contributions of $500,000.b. Received donor-restricted contributions of $300,000.c. Received donor-restricted contributions to the $500,000 endowment fund.d. Received restricted donor contributions for museum security of $100,000.e. Received unrestricted cash for: Museum admission fees, $800,000; Private activities, $450,000.

The following information pertains to interest received by Beech Public University from endowment fund investments for the year ended June 30, 2018:   Received Expended forCurrent Operations Unrestricted . . . . . . . . . Restricted . . . . . . . . $300,000 500,000 $100,000 75,000 What amount should be credited to Endowment Income for the year ended June 30, 2018?a. $800,000b. $375,000c. $175,000d. $100,000

The financial statements of XYZ funds show total public support of 14,000,000S, total grants of the 1,000,000S, and the total contribution of 5,000,000$, then the total sponsorship is: O a. 8,000,000$ O b. 4,000,000S O c. 3,000,000S O d. 1,000,000$

A Charity institution capital fund of the non profit organization has OMR 900,000. The income earning @ OMR 250,000 and OMR60,000 expenses. What is the excess value of income statement?Select one:a. OMR 160,000b. OMR 650,000c. OMR 190,000d. OMR 590,000

The following transactions occurred in the City of Jim-town Enterprise Fund: 1. Equipment belonging to the Enterprise Fund was sold for $300. 2. The proceeds from the sale of the asset were transferred to the General Fund. 3. Cash, $2,800, was paid for construction costs. The cash was paid out of unrestricted cash available for any Enterprise Fund purpose i.e., was not set aside strictly for capital asset construction or acquisition. 4. Paid principal, $18, and interest, $59, on a mortgage note. 5. The Enterprise Fund collected $12,500 from external customers and $2,500 from the General Fund for services. 6. The City signed a lease for equipment. The present value of the future payments and fair value of the equipment is $5,000, and the City made a down payment of $500 7. Proceeds of bonds issued to refund previously outstanding bonds that had been issued to finance plant expansion several years earlier, $18,000. 8. Interest paid on the refunding bonds, $1,080. 9. Cash proceeds from…

! Required information Problem 18-45 (Static) (LO 18-1, 18-2, 18-4, 18-5, 18-8) [The following information applies to the questions displayed below.] For a number of years, a private not-for-profit entity has been preparing financial statements that do not necessarily conform to U.S. generally accepted accounting principles. At the end of the most recent year (Year 2), those financial statements show total assets of $900,000, total liabilities of $100,000, net assets without donor restriction of $400,000, and net assets with donor restrictions of $400,000. This last category is composed of $300,000 in net assets with purpose restrictions and $100,000 in net assets that must be permanently held. At the end of Year 1, financial statements show total assets of $700,000, total liabilities of $60,000, net assets without donor restriction of $340,000, and net assets with donor restrictions of $300,000. This last category is composed of $220,000 in net assets with purpose restrictions and…

Required information [The following information applies to the questions displayed below.] For a number of years, a private not-for-profit entity has been preparing financial statements that do not necessarily conform to U.S. generally accepted accounting principles. At the end of the most recent year (Year 2), those financial statements show total assets of $900,000, total liabilities of $100,000, net assets without donor restriction of $400,000, and net assets with donor restrictions of $400,000. This last category is composed of $300,000 in net assets with purpose restrictions and $100,000 in net assets that must be permanently held. At the end of Year 1, financial statements show total assets of $700,000, total liabilities of $60,000, net assets without donor restriction of $340,000, and net assets with donor restrictions of $300,000. This last category is composed of $220,000 in net assets with purpose restrictions and $80,000 in net assets that must be permanently held. Total…

In 2021, Garden City bought land for $50,000. Which of the following is not true? O a. The land could be reported as an asset by the business-type in the fund-based financial statements. O b. The land could be reported as an asset by the governmental funds in the fund-based financial statements. O c. The land could be reported as an asset by the governmental funds in the government-wide financial statements. O d. The land could be reported as an asset by the business-type activities in the government-wide financial statements.

N2. Account

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D2.

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A single contribution may affect all three types of funds. The following events and transactions relate to a single contribution. 1. A high-tech firm pledged to contribute $1 million in the company's common stock to a university's business school if the school would establish a new program in the management of information technology. The securities were to be placed in an endowment fund and the annual dividend earnings were to be used to purchase computer hardware and software. 2. The business school established the program and thereby satisfied the conditions to receive the contribution. 3. The business school received the stock and placed it in an endowment fund. 4. In the first year after receiving the stock, the business school earned $30,000 in cash dividends. They were credited to an appropriate fund. 5. The business school purchased $20,000 of computer equipment. 6. The computer equipment was estimated to have a useful life of four years (no salvage). The school charged one…

Current Attempt in Progress Your answer is partially correct. Crane College pooled the individual investments of three of its funds on December 31, 2024. The recorded value and the fair market value of the investments on December 31, 2024, are presented here: Loan fund Quasi-endowment fund Life income fund Total Recorded Value $114,750 118,850 142,400 $376,000 Fair Value $97.750 Account Titles and Explanation Loan Fund 136,850 156,400 $391.000 During 2025, the investment pool earned dividends of $10.700 and interest of $19.200 and distributed cash in these amounts to the respective funds. Realized gains on transactions of the investment pool amounted to $15.000 and were reinvested in securities held in the pool. Prepare the journal entries that are necessary in the records of each of the funds to account for the earnings of the investment pool during 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required,…

Presented below are financial statements (except cash flows) for two not-for-profit organizations.   ABC Not-for-Profit XYZ Not-for-Profit Statement of Activities Unrestricted Donor-Restricted Unrestricted Donor- Restricted Revenues         Program service revenue $ 5,595,000   $ 2,250,000   Contribution revenues 3,327,500 $ 750,000 3,200,000   Grant revenue   96,000   $ 1,025,000 Net gains on endowment investments 17,500       Net assets released from restriction         Satisfaction of program restrictions 450,000 (450,000) 377,000 (377,000) Total revenues 9,390,000 396,000 5,827,000 648,000 Expenses         Education program expenses 5,525,000   1,680,000   Research program expense 1,350,000   2,232,000   Total program service expenses 6,875,000   3,912,000   Fund-raising 550,000   412,000   Administration 650,000   990,000   Total supporting service expenses 1,200,000   1,402,000   Total expenses 8,075,000   5,314,000   Increase in net…

Topic: Accounting For Non-Profit Organization

As a newly employed Chief Finance Officer of EKM School Complex, you are offered the following two mutually exclusive projects. Cash Flows(GHS) Year Project A Project B 0 -5,000 -100,000 1 4,500. 65,000 2. 4,500 65,000 a) What are the IRRs of these two projects? (Use the formula provided in the appendix) b) If you are told only the IRRs of the projects, which would you choose? c) What did you ignore when you made your decision in part (b)? d) According to the NPV rule, which one of these two projects should be pursued? Assume appropriate discount rate of 15%. Appendix For all IRR calculations please use the formula below IRR = a+(b-a)[NPV@a/NPV@a - NPV@b]

The Watson Foundation, a private not-for-profit entity, starts 2020 with cash of $100,000, contributions receivable (net) of $200,000, investments of $300,000, and land, buildings, and equipment (net) of $200,000. Net assets without donor restrictions were reported as $400,000, the same figure as the net assets with donor restrictions. Of the restricted net assets, $300,000 was purpose restricted whereas the other $100,000 had to be held permanently, although the subsequently earned income is without restriction. Fifty percent of the purpose restricted net assets had to be used to help pay for a new building. The remainder was restricted to the payment of officer salaries. Donors made no stipulations about the eventual reporting of buildings and other long-lived assets when acquired. Watson has one program service (health care) and two supporting services (fundraising and administrative). During the current year, Watson Foundation has the following transactions. 1. Computed interest of…

Financing for the renovation of Fir City's municipal park, begun and completed during Year 1, came from the following sources:   Grant from state government                                                             $400,000   Proceeds from general obligation bond issue                                        500,000   Transfer from Fir's general fund                                                            100,000   In its Year 1 capital projects fund operating statement, Fir should report these amounts as:)           Revenues           Other Financing Sources A) Operating cash flow only. B) Investing cash flow only C) Operating or investing cash flow. D) Operating or financing cash flow.