The following is an adjusted trial balance of the General Funds of Barnes Nursin
ID: 2417109 • Letter: T
Question
The following is an adjusted trial balance of the General Funds of Barnes Nursing Home (non-profit).
Barnes Nursing Home
Adjusted Current Funds Trial Balance
December 31, 2015
Unrestricted
Restricted
Cash
300,000
107,000
Pledges Receivable
12,000
206,000
Accrued Interest Receivable.
1,000
Inventory of Supplies
120,000
Vouchers Payable
50,000
10,000
Accrued Expenses
25,000
Refundable Deposits
2,000
Allowance for Uncollectible
Pledges
3,000
Net Assets, January 1, 2015
Designated--Unrestricted
12,000
Undesignated--Unrestricted
26,000
Temporarily Restricted
3,000
Permanently Restricted
250,000
Contributions
200,000
50,000
Resident Service Revenue
415,000
Other Operating Revenue
20,000
5,000
Outreach Expenses
20,000
Nursing Services Expenses
100,000
Dietary Service Expense
100,000
General Service Expense
45,000
Financial Service Expense
60,000
Reclassification In--
Satisfaction of Program
Restriction
5,000
Reclassification Out--
Satisfaction of Program
Restrictions
5,000
758,000
758,000
318,000
318,000
Required:
Prepare a statement of activities and a statement of financial position as of December 31, 2015.
Barnes Nursing Home
Adjusted Current Funds Trial Balance
December 31, 2015
Unrestricted
Restricted
Cash
300,000
107,000
Pledges Receivable
12,000
206,000
Accrued Interest Receivable.
1,000
Inventory of Supplies
120,000
Vouchers Payable
50,000
10,000
Accrued Expenses
25,000
Refundable Deposits
2,000
Allowance for Uncollectible
Pledges
3,000
Net Assets, January 1, 2015
Designated--Unrestricted
12,000
Undesignated--Unrestricted
26,000
Temporarily Restricted
3,000
Permanently Restricted
250,000
Contributions
200,000
50,000
Resident Service Revenue
415,000
Other Operating Revenue
20,000
5,000
Outreach Expenses
20,000
Nursing Services Expenses
100,000
Dietary Service Expense
100,000
General Service Expense
45,000
Financial Service Expense
60,000
Reclassification In--
Satisfaction of Program
Restriction
5,000
Reclassification Out--
Satisfaction of Program
Restrictions
5,000
758,000
758,000
318,000
318,000
Explanation / Answer
Part A)
The statement of activities is provided below:
__________
Part B)
Barnes Nursing Home Statement of Activities For the Year Ended December 31, 2015 Unrestricted Temporarily Restricted Permanently Restricted Total Public Support Revenue: Contributions 200,000 50,000 250,000 Revenue Resident Service 415,000 415,000 Other Operating 20,000 5,000 25,000 Net Assets Released from Restrictions: Satisfaction of Program Restrictions 5,000 -5,000 0 Total Public Support, Revenue and Other 640,000 50,000 0 690,000 Expenses: Outreach 20,000 Nursing Services 100,000 Dietary Services 100,000 General Services 45,000 Financial Services 60,000 Total Expenses 325,000 325,000 Changes in Net Assets 315,000 50,000 365,000 Net Assets, January 1, 2015 38,000 3,000 250,000 291,000 Net Assets, December 31, 2015 $353,000 $53,000 $250,000 $656,000Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.