Let us worry about your assignment instead!

We Helped With This Finance Math Assignment: Have A Similar One?

SOLVED
CategoryMath
SubjectFinance
DifficultyCollege
StatusSolved
More InfoDo My Finance Assignment
547011

Short Assignment Requirements

3 assignments with excel templates provided for each.9-279-2810-15Thank You

Assignment Description

EXHIBIT 9-4

 

 

9-27.

Assume that FADD began the year with the following balances (shown in alphabetical order) in their accounts:

Brochures Inventory

$     1,000

Cash

270,000

Furniture

0

Grants Payable

700,000

Investments

830,000

Notes Payable

0

Permanently Restricted Net Assets

100,000

Pledges Receivable

500,000

Temporarily Restricted Net Assets

700,000

Unrestricted Net Assets

101,000

Record this information and the transactions from Problem 9-26 in a worksheet similar to Exhibit 9-4.

 

 

9-28.

Use the ending balances from Problem 9-27 to prepare a balance sheet.

 

10-14.

The American Natural History Center (ANHC) had the following highly summarized financial events during the current year:

·         1.Jan. 2 Ordered new equipment with a 10-year life, for $80,000. No payment was made and the equipment has not been delivered.

·         2.Jan. 14 Received a $100,000 payment on a pledge that had been made three years ago.

·         3.Feb. 19 Bought $35,000 of books and posters that will be sold in the Center store. Only $20,000 was paid for the inventory on that date, and the balance is owed to the suppliers. ANHC expects to be able to sell the inventory for $60,000.

·         4.May 15 Paid a $30,000 deposit for the equipment ordered on January 2.

·         5.July 12 Received the equipment ordered on January 2, and mailed a check for the balance due.

·         6.Dec. 28 Admission fees for the year were $74,000. They were all collected.

·         7.Dec. 28 ANHC paid its employees $68,000 of wages. Wage expense for the year is $73,000. The payment included the $2,000 wages payable balance outstanding from the previous year plus some payment for work done this year.

·         8.Dec. 30 Book and poster sales for the year totaled $53,000. All but $3,000 of that amount has been collected. The entire $6,000 balance in accounts receivable from beginning of the year was also collected. The cost of the books and posters sold was $32,000.

·         9.Dec. 31 ANHC makes a payment of $134,000 on its long-term note. That amount includes interest expense of $7,000.

·         10.Dec. 31 The Center building and equipment are now one year older. Depreciation for the year is $60,000.

·         11.Dec. 31 ANHC estimates that $1,000 of the receivables for book and poster sales made this year will never be collected.

Record these transactions and any other required adjusting entries, by showing either their impact on the fundamental equation of accounting or journal entries.

 

10-15.

Assume that ANHC began the year with the following balances (shown in alphabetical order) in their accounts:

Accounts Payable

$    2,000

Accounts Receivable

6,000

Buildings and Equipment, Net

550,000

Cash

80,000

Notes Payable

250,000

Permanently Restricted Net Assets

300,000

Pledges Receivable

320,000

Temporarily Restricted Net Assets

30,000

Unrestricted Net Assets

372,000

Wages Payable

2,000

Record this information and the transactions from Problem 10-14 in a worksheet similar to Exhibit 10-7.

 

 

 

Customer Feedback

"Thanks for explanations after the assignment was already completed... Emily is such a nice tutor! "

Order #13073

Find Us On

soc fb soc insta


Paypal supported