chapter 14 question 11 - 14-11 1 Indicates the relationship...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
14-11. 1. Indicates the relationship and discretionary funding of the national organization to its affiliates. These financial statements are those of the national organization, separate from the affiliates. However, we can see from the activity statement, that most of the resources of the national organization are used in support of the affiliates. 2. No. See note 2 or the Statements of Financial Position. The organization has no permanently restricted net assets as of 2007. 3. $623,896. From the Statement of Activities and Note 8, $1,257,699 became unrestricted in the year ending March 31, 2007. 4. a. YES b. YES c. YES d. NO e. NO See note 2 on cash equivalents 5. Current ratio = Current Assets / Current Liabilities. Deteriorating but still a very high value, so this deterioration is not a concern. 2007 2006 Current Assets $12,934,359 $13,330,692 Current Liabilities $2,997,102 $3,021,674 Current Ratio 4.32 4.41 It is not completely clear which assets and liabilities are current. However, if only cash and marketable securities are current assets, and only accounts payable and accrused pension were current liabilities, the current ratio would be even higher.
Image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
6.
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern