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statements for cur r ent funds of a v oluntary health and w elfa r e organization ai 733894

Statements for Cur r ent Funds of a V oluntary Health and W elfa r e Organization

[AIC P A Adapted]

Following are the adjusted current funds trial balances of Community Association for Children

With Disabilities, a voluntary health and welfare organization, on June 30, 20X4:

COMMUNITY ASSOCI A TION FOR CHILDREN WITH DISABILITIES

Adjusted Cur r ent Funds T rial Balances

June 30, 20X4

Un r estricted Restricted

Debit

C r edit

Debit

C r edit

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 & 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 f inancial position as of June 30, 20X4.

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