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WSS-2 - ACCT 4650 WSS 2 This is an extension of WSS-1 It...

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ACCT 4650 WSS - 2 This is an extension of WSS-1. It involves the same Winter Sports Society (WSS) and extends their activities into the year ending December 31, 2010. It is made more complex by the addition of capital assets and their amortization. There are no additional endowment contributions during the year ending December 31, 2010. The endowment fund investments have income of $4,820 during this period. During the year ending December 31, 2010, $842,300 in unrestricted contributions were received. At year end, there is an additional $53,250 in contributions that are receivable. The Board believes that this is a reasonable estimate of the amount that will actually be collected. This total was allocated $510,050 to skating activity, $243,500 to skiing activity, and $142,000 for the acquisition of a building to be used in the organization's operations. All of the receivables are allocated to the skating activity. On July 1, 2010, the organization acquires a building for a total cost of $142,000. Of this total, $37,000
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