20 Jun Accounting profile
Chapter 11, Exercise 11-8 in Essentials of Accounting for Governmental & Not-for-Profit Organizations, 12th Edition by Paul A. Copley erroneously uses the amount of $750,000 instead of $670,000 in the closing entry credit for Net Assets – Temporarily Restricted (p. 362). With the use of the incorrect amount, the closing entries, as shown in the text, do not balance.
Review the financial information pertaining to Lee College in problem 11-8 on pages 357 and 358 of your text. Prepare the following:
A Statement of Activities using the format presented in Illustration 10-1.
A Statement of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets.
A Statement of Changes in Net Assets.
Your paper must:
Include both the completed financial statements and detailed analysis of the data provided.
Explain the process by which you completed the final statements and include any applicable supporting information computations and explanations.
Offer an in-depth analysis of the financial health of Lee College.
The Final Project
Must be five to seven double-spaced pages in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center.
Must include a separate title page with the following:
Title of Final Project
Student’s name
Course name and number
Instructor’s name
Date submitted
Must include an introductory paragraph with a succinct thesis statement.
Must address the topic of the project with critical thought.
Must conclude with a restatement of the thesis and a conclusion paragraph.
Must use APA style as outlined in the approved APA style guide to document all sources.
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