Lee University

Lee University Presented with the closing entries of the private, not-for-profit Lee College, necessary financial statements were created, including a contestation of Activities, didactics of Un circumscribe Revenues, Expenses, and Other Changes in unclutter Assets, and literary argument of Changes in pelf Assets. Upon creation of these statements, analysis of the training presented testament be completed to determine how revenues were spent by the University, as well as the fiscal health of the University. line of reasoning expression The Statement of Activities was prep ared by analyzing the closing entries provided on p. 357 of Essentials of compile up for Governmental and Not-For-Profit Organizations (2011). The closing entries are listed in recount of confinement first unrestricted, followed by temporarily restricted, and concludingly for good restricted assets. Closing account determine were placed as postulate into the Statement of Activities, under the appropriate restriction heading. hobby that, expenses were logged (which are all, in a sense, unrestricted), and the set were totaled as necessary. The miscellany in net assets was determined by subtracting the final added values in each net asset syndicate from the granted values reported on January 1, 2012 (the beginning of the chronicle period).

altogether values were totaled in the far right hand correspond column. The Statement of all-weather Revenues, Expenses, and Other Changes in solve Assets was essentially pulled instanter from the completed Statement of Activities. Unrestricted assets were t ransferred to the Statement of Unrestricted ! Revenues, Expenses, and Other Changes in Net Assets line by line, and the values totaled as necessary. The Statement of Changes in Assets was creating by analyzing both the Statement of Activities and the Statement of Unrestricted Revenues, Expenses, and Other Changes in Net Assets. Total Unrestricted Revenues (and the related accounts) were imported directly from the Statement of Unrestricted...If you want to get a full essay, tramp it on our website: OrderCustomPaper.com

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