Question

Preparation of financial statements for a VHWO Following are the preclosing trial balances of Marilyn Township Senior Citizens Center as of December 31, 2019. Prepare a statement of financial position and a statement of activities at and for the year ended December 31, 2019. Without Donor Restrictions With Donor Restrictions Debit Credit Debit Credit Cash $3,000 $1,600 Pledges receivable 1,000 500 Allowance for uncollectible pledges $300 Investments 3,200 Accrued interest receivable 100 Net assets, January 1, 2019 6,700 $2,000 Contributions 1,000 500 Membership dues 1,500 Program service fees 3,000 Grant from county 2,500 Grant from state 2,500 Unrealized and realized gains on investments 200 Investment income 100 Luncheon program expenses 7,200 Recreation program expenses 3,400 Administration expenses 300 Net assets with donor restrictions—reclassifications out— satisfaction of program restrictions 400 Net assets without donor restrictions—reclassifications in— satisfaction of program restrictions 400 $18,200 $18,200 $2,500 $2,500 Use a negative sign with your answers for Net assets released from restrictions - when applicable. Otherwise do not use negative signs with your answers. Marilyn Township Senior Citizens Center Statement of Activities For the Year Ended December 31, 2019 Without Donor Restrictions With Donor Restrictions Total Revenues and Other Support: Contributions $Answer $Answer $Answer Membership dues Answer Answer Answer Program service fees Answer Answer Answer Grant from county Answer Answer Answer Grant from state Answer Answer Answer Realized/unrealized investment gains/(losses) Answer Answer Answer Investment income Answer Answer Answer Net assets released from restrictions due to satisfaction of program restrictions Answer Answer Answer Total revenues and other support Answer Answer Answer Expenses: Luncheon program expenses Answer Answer Answer Recreation program expenses Answer Answer Answer Administrative expenses Answer Answer Answer Total expenses Answer Answer Answer Change in net assets Answer Answer Answer Net assets, beginning of year Answer Answer Answer Net assets, end of year $Answer $Answer $Answer Marilyn Township Senior Citizens Center Statement of Financial Position December 31, 2019 Assets: Cash $Answer Pledges receivable, less allowance for uncollectible pledges Answer Accrued interest receivable Answer Investments Answer Total assets $Answer Liabilities and Net Assets: Liabilities $Answer Net assets: Without donor restrictions Answer With donor restrictions: Answer Total liabilities and net assets $Answer

Answer 1

Part 1

Marilyn Township Senior Citizens Center

Statement of Activities

Year Ended December 31, 2019

	Without Donor Restrictions	With Donor Restrictions	Total
Revenues, Gains, and Other Support:
Contributions	1000	500	1500
Membership dues	1500		1500
Program service fees	3000		3000
Grant from county	2500		2500
Grant from state	2500		2500
Unrealized and realized gains on investment	200		200
Investment income	100		100
Net assets released from restrictions:
satisfaction of program restrictions	400	(400)
Total revenues, gains and other support	11200	100	11300
Expenses:
Luncheon program expenses	7200		7200
Recreation program expenses	3400		3400
Administration expenses	300		300
Total expenses	10900		10900
Change in net assets	300	100	400
Net assets at beginning of year	6700	2000	8700
Net assets at end of year	7000	2100	9100

Part 2

Marilyn Township Senior Citizens Center

Statement of Financial Position

December 31, 2019

Assets
Cash	4600
Pledges receivable (1500-300)	1200
Accrued interest receivable	100
Investments	3200
Total assets	9100
Liabilities and Net Assets
Liabilities	0
Net assets:
Without Donor Restrictions	7000
With Donor Restrictions	2100
Total net assets	9100
Total liabilities and net assets	9100