10_16 Solution - PROBLEM 10-16 SOLUTION (Financial...

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PROBLEM 10-16 SOLUTION (Financial Statement) NOTE: The numbers from this solution are linked to the solution file for Problem 10-15. This serves to give students practice using numbers from linked files. Note also that because the numbers in Solution 10-15 are shown in thousands, they must be multiplied by 1,000 to get the revenue numbers and by -1,000 to get the expense numbers that appear in the financial statements in this solution. This Worksheet page contains just the Activity Statement. The Statement of Financial Position and the Cash Flow Statement are on separate Worksheets within this file. See tabs at the bottom of this page. American Natural History Center Activity Statement for the Year Ending December 31, Year 2 Revenues and support Admission revenue $74,000 Sales or Gift Shop revenue 53,000 Total revenues and support $127,000 Expenses: Cost of goods sold $32,000 Wage expense 73,000 Interest expense 7,000 Bad debts 1,000 Depreciation 60,000 Total expenses $173,000 Increase/(Decrease) in net assets ($46,000)
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This note was uploaded on 02/22/2012 for the course FINANCE 390:300:03 taught by Professor Palmon during the Fall '10 term at Rutgers.

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10_16 Solution - PROBLEM 10-16 SOLUTION (Financial...

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