Select the appropriate amount from the right column that matches the description in the left column.  All entities have calendar year ends.  Pertinent information for this matching question follows: Total income taxes for the year are $5,000,000 with $100,000 estimated to be uncollectible.  Collections during the year via withholdings are $4,000,000.   In January of the following year, $500,000 is received from estimated payments.  $200,000 is received in March and April with payment of taxes in the following year. The city bought an ambulance for $100,000.  It has no salvage value and an estimated useful life of 10 years. Property taxes received April of the current year from last year’s levy were $300,000.  Property taxes levied for the current year are $5,000,000 with $100,000 estimated to be uncollectible.   Collections during the year for the current property tax levy are $4,000,000.  In January of the following year, $500,000 is received.  $200,000 is received in April and May. Payments of debt principal were $100,000 with $10,000 interest payments made.

The following balances are included in the records of Crimson City’s Park and Recreation Department: Appropriations–Supplies     $7,500 Expenditures–Supplies           4,500 Encumbrances–Supplies           750 How much does the Park and Recreations Department have available for additional purchases of supplies?

Match the following departments of activities on the left to the type of fund that most likely would be used for each department on the right. 

What is the change in net assets with donor restrictions?

The charity bought $75,000 of coats and distributed them to the children.

Which of the nonprofit statements is most similar to an income statement?

As a result of its annual fund-raising program, a nonprofit receives pledges in the amount of $300,000 during December 20X1, the last month of its reporting period.  Based on its previous history regarding pledges, the nonprofit believes that about $250,000 will be collected in the first 60 days of 20X2, some will trickle in during the rest of 20X2, and 10 percent will not be collected at all.  How much should the nonprofit report as net pledges receivable on its 20X1 financial statements?

What is the change in net assets without donor restrictions?

Sue, a certified public accountant, donated 60 hours of her time to the Homeless Center, a nonprofit.  She spent 20 hours auditing their books and 40 hours serving food to the needy.  She normally earns $200 an hour as a CPA, and the Homeless Center normally pays $10 per hour to students when it cannot find volunteers.  How much should the Homeless Center report as contribution revenue for her services?

What are total ending net assets?