Problem #2 The following information was taken from the accounts and records of the Helping Hands Foundation, a private, not-for-profit organization classified as a VHWO. All balances are as of June 30, 2018, unless otherwise noted. Unrestricted Support - Contributions $2,000,000 Unrestricted Support - Membership Dues 640,000 Unrestricted Revenues - Investment Income 80,000 Temporarily restricted gain on sale of investments 25,000 Expenses - Program Services 1,860,000 Expenses - Supporting Services 350,000 Expenses - Supporting Services 550,000 Temporarily Restricted Support - Contributions 640,000 Temporarily Restricted Revenues - Investment Income 60,000 Permanently Restricted Support - Contributions 100,000 Unrestricted Net Assets, July 1, 2013 450,000 Temporarily Restricted Net Assets, July 1, 2017 2,100,000 Permanently Restricted Net Assets, July 1, 2017 60,000 The unrestricted support from contributions was received in cash during the year. The expenses included $1,350,000 paid from temporarily-restricted cash donations. Required: Prepare Helping Hands' Statement of Activities for the fiscal year ended June 30, 2018.
Problem #2
The following information was taken from the accounts and records of the Helping Hands Foundation, a private, not-for-profit organization classified as a VHWO. All balances are as of June 30, 2018, unless otherwise noted.
Unrestricted Support - Contributions $2,000,000
Unrestricted Support - Membership Dues 640,000
Unrestricted Revenues - Investment Income 80,000
Temporarily restricted gain on sale of investments 25,000
Expenses - Program Services 1,860,000
Expenses - Supporting Services 350,000
Expenses - Supporting Services 550,000
Temporarily Restricted Support - Contributions 640,000
Temporarily Restricted Revenues - Investment Income 60,000
Permanently Restricted Support - Contributions 100,000
Unrestricted Net Assets, July 1, 2013 450,000
Temporarily Restricted Net Assets, July 1, 2017 2,100,000
Permanently Restricted Net Assets, July 1, 2017 60,000
The unrestricted support from contributions was received in cash during the year. The expenses included $1,350,000 paid from temporarily-restricted cash donations.
Required:
Prepare Helping Hands' Statement of Activities for the fiscal year ended June 30, 2018.
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