P10-1 - 39,000 Other expenses ($8,500 + $1,000) 9,500...

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P10-1 ABDALLA LODGE Statement of Operations ten months ended October 31, 20X4 Revenues Government grant (70% × total expenses of $118,000) $ 82,600 Donated services ($48,000 × 2/12) 8,000 Contributions from individuals and businesses ($60,000 – $15,000) 45,000 135,600 Expenses Leasehold improvements 30,000 Furniture and equipment 24,000 Rent 10,500 Office supplies 5,000 Wages and benefits ($28,000 + $3,000 + $48,000 × 2/12)
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Unformatted text preview: 39,000 Other expenses ($8,500 + $1,000) 9,500 118,000 Excess of revenues over expenses $ 17,600 ABDALLA LODGE Statement of Financial Position October 31, 20X4 Assets Cash $ 24,000 Due from provincial government (70% $118,000 $70,000) 12,600 $ 36,600 Liabilities Accrued liabilities ($3,000 + $1,000) $ 4,000 Deferred contributions 15,000 19,000 Fund balance Unrestricted funds 17,600 $ 36,600 [CGA]...
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