P12-4 (Preparation of financial statements for an NFPO) Following are the preclosing fund trial balances as of December

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P12 4 Preparation Of Financial Statements For An Nfpo Following Are The Preclosing Fund Trial Balances As Of December 1 (43.93 KiB) Viewed 65 times

P12-4 (Preparation of financial statements for an NFPO) Following are the preclosing fund trial balances as of December 31, 2013, for Oliver's Place, an NFPO. (The trial balances are based on the transactions contained in P12-3.) Prepare a statement of activities for the year ended December 31, 2013; also prepare a statement of financial position as of December 31, 2013 Oliver's Place Preclosing Trial Balances December 31, 2013 Unrestricted Current Fund Credit Debit $ 11,000 20,000 22.000 Cash Contributions receivable Investments Allowance for uncollectible contributions Unrestricted support-contributions Unrestricted support-donated services Unrestricted revenue investment income Unrestricted gains-unrealized investment gains Unrestricted asset reclassifications in--satisfaction of program restrictions Care of animals expenses Special programs expenses Administrative expenses $5,000 115,000 10,000 1,000 2.000 3.000 50.000 3,000 30.000 $136,000 $136,000 178 Chapter 12 Accounting for Not-for-Profit Organizations Restricted Current Fund Credit Debit 514,000 Cash Temporarily restricted support-contributions Temporarily restricted asset redassifications out-satisfaction of program restrictions $17,000 3,000 $17,000 $17,000 Endowment Fund Credit Debit $47,000 Investments Permanently restricted support-contributions Permanently restricted losses--unrealized investment losses $50,000 3,000 $50,000 $50,000