PRICE FOR BOTH PARTS PLEASE NFP Financial Reporting You will have 2 deliverables for this assignment: (1) Part A: Excel Spreadsheet and (2) Part B: a 2-slide presentation not including title and refer

by


PRICE FOR BOTH PARTS PLEASE

NFP Financial Reporting

You will have 2 deliverables for this assignment: (1) Part A: Excel Spreadsheet and (2) Part B: a 2-slide presentation not including title and reference slides.

Part A:

Snowflake Community Symphony Orchestra had the following transactions for the year:

  1. A fund drive raised $210,000 cash and $150,000 in pledges that will be paid within one year.
  2. A business donated rent-free space for the organization that would typically rent for $48,000 per year.
  3. Volunteers contributed $20,000 of their time to help with mailing materials, answering phones, and other clerical functions.
  4. Salaries and fringe benefits of $224,600 were paid during the year, and an additional $14,200 of salaries and fringe benefits were accrued.
  5. The Symphony incurred the following expenses during the year: Utilities – $4,700; Supplies – $5,250; and telephone $9,600. There were no supplies at the end of the year, and accounts payable of $3,400 remained on the books.

Part A Deliverable:

In an Excel Spreadsheet prepare journal entries to record the transactions. Label each entry clearly and use Excel formulas for all calculated numbers.

Part B:

  1. What criteria must be met before a not-for-profit organization can record donated services?
  2. If the criteria are met, how should donated services be recorded? Give examples to support your answer.

Part B Deliverable:

  • A 2-slide presentation with voice-over or speaker notes addressing the provided prompts (one slide per prompt) not including title and reference slides.

Requirements:

  • Use terms, evidence, and concepts from class readings, including professional business language.
  • Cite at least 2 sources for this assignment,