Building 725000 cash 725000 6 the 400000 mentioned in

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Building725000Cash7250006. The $400,000 mentioned in 1(e) was invested permanently, as directed by the donor, and in theyear ended June 30, 2015, the school received inter-est of $11,500, none of which was expended.Investments400000Cash400000Cash11500Interest revenue unrestricted1150010–10. The Ombudsman Foundation is a private not-for-profit organization pro-viding training in disputeresolution and conflict management. The Foundation had the following pre-closing trial balance atDecember 31, 2015, the end of its fiscal year:Account:DebitsCreditsAccounts payable88000Accounts receivable (net)75000Accrued interest receivable15500Accumulated depreciation3300000Cash109000Contributed services—unrestricted25000Contributions—unrestricted2250500Contributions—temporarily restricted777000Contributions—permanently restricted2650000Current pledges receivable (net)45000Account:DebitsCredits
Education program expenses1505000Fund-raising expense116000Grant revenue—temporarily restricted86000Training seminar expenses4456000Land, buildings, and equipment5500000Long-term investments2690000Management and general expense365000Net assets:Unrestricted (January 1)358000Temporarily restricted (January 1)795000Permanently restricted (January 1)1250000Net gains on endowment investments—unrestricted17500Noncurrent pledge receivables (net)365000Program service revenue—unrestricted5595000Post employment benefits payable (noncurrent)123500Reclassifications:Satisfaction of program restrictions250000Satisfaction of time restrictions 225000Satisfaction of program restrictions250000Satisfaction of time restrictions225000Research program expenses1256000Short-term investments750000Supplies inventory32000Totals1775450017754500

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Term
Spring
Professor
N/A
Tags
Balance Sheet, Generally Accepted Accounting Principles, program restrictions, Training seminar expenses

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