The following information was taken from the accounts and records of the ABC Foundation, a private, not-for-profit organization. All balances are as of June 30, 2017, unless otherwise noted. The unrestricted support from contributions was received in cash during the year. The expenses included $500,000 payable from donor-restricted resources.
Required:
Prepare ABC's statement of activities for the fiscal year ended June 30, 2017.

Question

The following information was taken from the accounts and records of the ABC Foundation, a private, not-for-profit organization. All balances are as of June 30, 2017, unless otherwise noted.  The unrestricted support from contributions was received in cash during the year. The expenses included $500,000 payable from donor-restricted resources.
Required:
Prepare ABC's statement of activities for the fiscal year ended June 30, 2017.

Quizplus · Accepted Answer

The Answer of The following information was taken from the accounts and records of the ABC Foundation, a private, not-for-profit organization. All balances are as of June 30, 2017, unless otherwise noted.  The unrestricted support from contributions was received in cash during the year. The expenses included $500,000 payable from donor-restricted resources.
Required:
Prepare ABC's statement of activities for the fiscal year ended June 30, 2017.

The Following Information Was Taken from the Accounts and Records