Following is financial data for the Center for New Horizons, a not-for-profit or
ID: 2447219 • Letter: F
Question
Following is financial data for the Center for New Horizons, a not-for-profit organization promoting sustainable business operations:
Unrestricted
Temporarily
Restricted
Permanently
Restricted
Revenues - Contributions
$1,288,000
$ 128,800
$20,700
Revenues - Investment
8,832
13,248
22,080
Net Assets, beginning of year
736000
506,000
184,000
Contributions Receivable
296,700
Expenses - Program
1,196,000
PPE, net
570,400
Depreciation expense
41,400
Long-term Liabilities
315,100
Cash
5,060
Payables
216,200
Investments
1,159,200
Net Assets Released from Restriction
92000
Expenses - Support
170,200
Required: Prepare the Statement of Activities and the Statement of Financial Position.
Unrestricted
Temporarily
Restricted
Permanently
Restricted
Revenues - Contributions
$1,288,000
$ 128,800
$20,700
Revenues - Investment
8,832
13,248
22,080
Net Assets, beginning of year
736000
506,000
184,000
Explanation / Answer
$1,250 ± $111.79 = ($1,138.21, $1,361.79).