Carlisle State College had the following account balances for the year ended and as of June...

Carlisle State College had the following account balances for the year ended and as of June 30, 2018. Debits are not distinguished from credits, so assume all accounts have a “normal” balance.

Additions to permanent endowments	400,000
Auxiliary enterprise revenue	4,200,000
Capital grants and gifts	300,000
Depreciation expense	1,400,000
Employee Benefits	1,975,000
Federal grants and contracts revenue	2,000,000
Gifts	700,000
Interest on capital-related debt	450,000
Investment income	220,000
Net position, beginning of year	11,450,000
Nonexempt wages	1,500,000
Other operating expenses	900,000
Salaries-exempt staff	2,300,000
Salaries-faculty	6,500,000
Scholarship tuition and fee contra revenue	300,000
Scholarships and fellowships expense	315,000
State and local grants and contracts revenue	900,000
State appropriation for operations	4,970,000
State appropriations for capital additions	250,000
Student tuition and fee revenue	8,450,000

Required

Prepare, in good form, a Statement of Revenues, Expenses, and Changes in Net Position for Carlisle State College for the year ended June 30, 2017.

PLEASE DO IN EXCELL AND START WITH OPERATING REVENUES.

Expert Solution

Answer:

ekkarill92 answered 8 months ago

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