Toul On Library

Hsm 260 1.Assignment Reading a Balance Sheet

Written on March 30, 2017   By   in Essays

1. Assignment: Reading A Balance Sheet
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Read the background information provided in Appendix B.
Open Appendix D XYZ Nonprofit Corp-this can be found in the Course Materials section under Week 4. CAUTION: Be sure to look at the tabs on the bottom of the spreadsheet and make sure you are on the Balance Sheet
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XYZ NONPROFIT CORPORATION |
BALANCE SHEET |
| 2002 (A) | 2003 (A) | 2004 (A) | |
ASSETS | | | | |
Current assets | | | | |
Cash | $2,576.00 | $20,904.00 | $86,971.00 | |
Investments | $12,000.00 | $12,000.00 | $12,000.00 | |
Accounts Receivables, net | $88,764.00 | $47,884.00 | $199,905.00 | |
Prepaid expense | $956.00 | $1,270.00 | $4,026.00 | |
Total Current Assets | $104,296.00 | $82,058.00 | $302,902.00 | |
| | | | |
Property and equipment, net | | | | |
Land | $192,300.00 | $193,372.00 | $193,372.00 | |
Furniture and equipment | $59,135.00 | $61,053.00 | $92,267.00 | |
Leasehold improvements | $35,539.00 | $23,380.00 | $110,463.00 | |
Total property and equipment | $286,974.00 | $277,805.00 | $396,102.00 | |
| | | | |
TOTAL ASSETS | $391,270.00 | $359,863.00 | $699,004.00 | |
| | | | |
LIABILITIES AND NET ASSETS | | | | |
| | | | |
LIABILITIES | | | | |
Current liabilities | | | | |
Accounts payable | $74,826.00 | $39,951.00 | $104,201.00 | |
Accrued payroll and related liabilities | $57,888.00 | $45,954.00 | $66,359.00 | |
Note payable (current portion) | $6,303.00 | $8,070.00 | $166,161.00 | |
Capital lease obligation (current portion) | $0.00 | $0.00 | $312.00 | |
Total current liabilities | $139,017.00 | $93,975.00 | $337,033.00 | |
| | | | |
Note payable (long term) | $0.00 | $0.00 | $1,904.00 | |
Capital lease obligation (long term) | $171,229.00 | $166,004.00 | $0.00 | |
| | | | |
Total liabilities | $310,246.00 | $259,979.00 | $338,937.00 | |
| | | | |
NET ASSETS | | | | |
Unrestricted | ($38,418.00) | ($105,127.00) | $27,202.00 | |
Temporarily restricted | $119,442.00 | $205,011.00 | $332,865.00 | |
| | | | |
Total net assets | $81,024.00 | $99,884.00 | $360,067.00 | |
| | | | |
TOTAL LIABILITIES AND NET ASSETS | $391,270.00 | $359,863.00 | $699,004.00 | |
| | | | |
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* Look at Fiscal Year 2002 and answer the following questions:
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1. What 4 items make up the current assets The four items that make up the current assets are cash, Investments Account Receivables and net prepaid expenses.
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2. What is the amount for each current asset listed The amount of current assets listed are
| |
Cash | $2,576.00 |
Investments | $12,000.00 |
Accounts Receivables, net | $88,764.00 |
Prepaid expense | $956.00 |
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3. What is the total amount for all current assets The total amount of current assets for the 2022 fiscal is $104,296.00.
4. What 3 items make up the longer term assets Three longer term assets are
Land |
Furniture and equipment |
Leasehold improvements |
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5. What is the amount for each longer term assets listed The longer term assets listed are
Land | $192,300.00 |
Furniture and equipment | $59,135.00 |
Leasehold improvements | $35,539.00 |
6. What is the total amount for all longer term assets listed The total amount is $391,270.00
7. What 4 items make up the current liabilities The current liabilities are
Accounts payable |
Accrued payroll and related liabilities |
Note payable (current portion) |
Capital lease obligation (current portion) |
8. What is the amount for each current liability listed
Accounts payable | $74,826.00 |
Accrued payroll and related liabilities | $57,888.00 |
Note payable (current portion) | $6,303.00 |
Capital lease obligation (current portion) | $0.00 |
| |
9.
* What is the total amount for all current liabilities The current liabilities are $139,017.00.
10. What 2 items make-up longer term liabilities listed Two long term items listed above are
Note payable (long term) |
Capital lease obligation (long term) |
11. What is the amount in each longer term liability The amount for each long term listed is
Note payable (long term) | $0.00 |
Capital lease obligation (long term) | $171,229.00 |
What is the total of the longer term liabilities The total amount is $310,246.00.
12. What is the total amount of all liabilities The total amount of all Liabilities is $310,246.00.
13. Which is greater, the assets or liabilities The liability is more than the assets.
14. Is the financial position for the organization at this point positive or negative It??™s negative at this point. The assets is what the company has then is worth cash value and it is currently less than the liabilities.

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