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Assignment: Reading A Balance Sheet write an essay on my best subject Read the background information provided in Appendix B.Open Appendix D XYZ Nonprofit Corp-this can be found in the Course Materials section under Week 4. CAUTION: Be sure to look at the tabs on the bottom of the spreadsheet and make sure you are on the Balance Sheet * XYZ NONPROFIT CORPORATION | BALANCE SHEET | | 2002 (A) | 2003 (A) | 2004 (A) | | ASSETS | | | | | Current assets | | | | | Cash | $2,576.
00 | $20,904.00 | $86,971.00 | | Investments | $12,000.00 | $12,000.00 | $12,000.00 | | Accounts Receivables, net | $88,764.00 | $47,884.
00 | $199,905.00 | | Prepaid expense | $956.00 | $1,270.00 | $4,026.00 | | Total Current Assets | $104,296.00 | $82,058.
00 | $302,902.00 | | | | | | | Property and equipment, net | | | | | Land | $192,300.00 | $193,372.
00 | $193,372.00 | | Furniture and equipment | $59,135.00 | $61,053.00 | $92,267.00 | | Leasehold improvements | $35,539.00 | $23,380.
00 | $110,463.00 | | Total property and equipment | $286,974.00 | $277,805.00 | $396,102.00 | | | | | | | TOTAL ASSETS | $391,270.00 | $359,863.
00 | $699,004.00 | | | | | | | LIABILITIES AND NET ASSETS | | | | | | | | | | LIABILITIES | | | | | Current liabilities | | | | | Accounts payable | $74,826.00 | $39,951.00 | $104,201.00 | | Accrued payroll and related liabilities | $57,888.00 | $45,954.
00 | $66,359.00 | | Note payable (current portion) | $6,303.00 | $8,070.00 | $166,161.00 | | Capital lease obligation (current portion) | $0.00 | $0.
00 | $312.00 | | Total current liabilities | $139,017.00 | $93,975.00 | $337,033.00 | | | | | | | Note payable (long term) | $0.00 | $0.00 | $1,904.00 | | Capital lease obligation (long term) | $171,229.
00 | $166,004.00 | $0.00 | | | | | | | Total liabilities | $310,246.00 | $259,979.00 | $338,937.
00 | | | | | | | NET ASSETS | | | | | Unrestricted | ($38,418.00) | ($105,127.00) | $27,202.00 | | Temporarily restricted | $119,442.00 | $205,011.
00 | $332,865.00 | | | | | | | Total net assets | $81,024.00 | $99,884.00 | $360,067.00 | | | | | | | TOTAL LIABILITIES AND NET ASSETS | $391,270.00 | $359,863.00 | $699,004.
00 | | | | | | | * * Look at Fiscal Year 2002 and answer the following questions: * 1. What 4 items make up the current assets The four items that make up the current assets are cash, Investments Account Receivables and net prepaid expenses. * 2. What is the amount for each current asset listed The amount of current assets listed are | | Cash | $2,576.00 | Investments | $12,000.
00 | Accounts Receivables, net | $88,764.00 | Prepaid expense | $956.00 | * 3. What is the total amount for all current assets The total amount of current assets for the 2022 fiscal is $104,296.
00. 4. What 3 items make up the longer term assets Three longer term assets are Land | Furniture and equipment | Leasehold improvements | * 5. What is the amount for each longer term assets listed The longer term assets listed are Land | $192,300.00 | Furniture and equipment | $59,135.00 | Leasehold improvements | $35,539.
00 | 6. What is the total amount for all longer term assets listed The total amount is $391,270.00 7. What 4 items make up the current liabilities The current liabilities are Accounts payable | Accrued payroll and related liabilities | Note payable (current portion) | Capital lease obligation (current portion) | 8.
What is the amount for each current liability listed Accounts payable | $74,826.00 | Accrued payroll and related liabilities | $57,888.00 | Note payable (current portion) | $6,303.00 | Capital lease obligation (current portion) | $0.00 | | | 9. * What is the total amount for all current liabilities The current liabilities are $139,017.00.
10. What 2 items make-up longer term liabilities listed Two long term items listed above are Note payable (long term) | Capital lease obligation (long term) | 11. What is the amount in each longer term liability The amount for each long term listed is Note payable (long term) | $0.00 | Capital lease obligation (long term) | $171,229.00 |What is the total of the longer term liabilities The total amount is $310,246.00. 12. What is the total amount of all liabilities The total amount of all Liabilities is $310,246.
00. 13. Which is greater, the assets or liabilities The liability is more than the assets. 14. Is the financial position for the organization at this point positive or negative It??™s negative at this point. The assets is what the company has then is worth cash value and it is currently less than the liabilities.
