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 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. affirmation set The Statement of Activities was prep ared by analyzing the closing entries provided on p. 357 of Essentials of publish up for Governmental and Not-For-Profit Organizations (2011). The closing entries are listed in rate of confinement first unrestricted, followed by temporarily restricted, and lowestly permanently restricted assets. Closing account determine were placed as postulate into the Statement of Activities, under the appropriate restriction hea ding. side by side(p) 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 home from the granted values reported on January 1, 2012 (the beginning of the explanation period).

altogether values were totaled in the far rightfulness correspond column. The Statement of all-weather Revenues, Expenses, and Other Changes in web Assets was essentially pulled at once from the completed Statement of Activities. Unrestricted assets were transferred to the Stat ement of Unrestricted Revenues, Expenses, an! d 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, rewrite it on our website: OrderCustomPaper.com

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