Answer Happy

Aging of contributions receivable The following represents the aging of contributions receivable for McKenzie Health Foundation for the historical years ended June 30, 2020, 2019, 2018, 2017, 2016, and 2015. Contributions receivable vary significantly by year, however, contribution revenue has been fairly stable over the five-year period. Fiscal Year-End 6/30/2020 6/30/2019 6/30/2018 6/30/2017 6/30/2016 6/30/2015 Total contributions receivable $1,006,000 $1,273,000 $931,000 $1,874,000 $596,000 $465,000 Allowance for uncollectible contributions 30.180 38,190 27,930 65,590 20,860 18,600 Total contribution revenue 21,123,000 22,064,100 20,099,500 22,117,200 21,978,800 21,654,000 Aging of contributions receivable $520,000 $376,000 $436,000 $1,474,000 $596,000 $435,000 31-60 days 26,000 426,000 290,000 400,000 0 30,000 61-90 days 410,000 471,000 205,000 0 0 0 > 90 days 50.000 0 0 0 0 0 $1,006,000 $1,273,000 $931,000 $1,874,000 $596,000 $465,000 0-30 days a) Prepare a report showing the allowance as a percentage of receivables and receivables as a percentage of contribution revenue. Round percentages to one decimal. Allowance as a percentage of receivables Receivables as a percentage of contribution revenue 6/30/2020 09 0 % 6/30/2019 0 % Fiscal Year-End 6/30/2018 6/30/2017 O 0% OM 0% 6/30/2016 096 6/30/2015 0% 0 % 0 % 0 % b) Prepare a report showing the percentage of receivables in each aging category Round percentages to one decimal.
b) Prepare a report showing the percentage of receivables in each aging category. Round percentages to one decimal. 6/30/2020 Fiscal Year-End 6/30/2018 6/30/2017 6/30/2019 6/30/2016 6/30/2015 Aging of contributions receivable 0-30 days 31-60 days 61-90 days > 90 days 0 % 0% 0 % 0% 0% 0 % 0 % 0 % 0 % 096 0 % 096 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 0 % 096 0 % 096 c. In addition to the evaluation of the adequacy of the allowance using the analyses in a) and b), which of the following procedures would be appropriate in the audit of the receivables balance under GAGAS?