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Raven814u
week_5_final_paper.docxFinal Project
The purpose of the Final Project is for you to demonstrate understanding of the reading as well as culminate the learning achieved in the course by describing your understanding and application of knowledge.
Focus of the Final Project
Review the financial information pertaining to Lee College in problem 11-8 on pages 362 of your text. Prepare the following:
1. A Statement of Activities using the format presented in Illustration 10-1.
2. A Statement of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets.
3. A Statement of Changes in Net Assets.
Your paper must:
1. Include both the completed financial statements and detailed analysis of the data provided.
2. Explain the process by which you completed the final statements and include any applicable supporting information computations and explanations.
3. Offer an in-depth analysis of the financial health of Lee College.
Guidelines for Writing the Final Paper
1. Must be a minimum of five to seven double-spaced pages in length (not including the title and reference pages) and formatted according to APA style as outlined in the approved APA style guide.
2. Must include a cover page that includes:
· Student’s name
· Course name and number
· Title of project
· Instructor’s name
· Date submitted
3. Must include an introductory paragraph with a succinct thesis statement.
4. Must address the topic of the project with critical thought.
5. Must end with a conclusion that reaffirms your thesis.
6. Must use at least two scholarly sources, in addition to the text.
7. Must document all sources in APA style, as outlined in the Ashford Writing Center.
8. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
From textbook
11–8.Presented below are the closing entries for Lee College, a private not-for-profit, for the year ended December 31, 2014.
Debits
Credits
Revenues—Unrestricted—Tuition and Fees
$11,000,000
Revenues—Unrestricted—Unrestricted Income on Endowment Investments
40,000
Revenues—Unrestricted—Sales and Services of Auxiliary Enterprises
5,500,000
Revenues—Unrestricted—Contributions
100,000
Reclassifications to Unrestricted Net Assets—Satisfaction of Program Restrictions
720,000
Reclassifications to Unrestricted Net Assets—Satisfaction of Plant Acquisition Restrictions
1,080,000
Net Assets—Unrestricted
110,000
Tuition Discount—Unrestricted—Student Aid
$ 375,000
Instruction Expense
7,000,000
Research Expense
4,500,000
Public Service Expense
1,200,000
Institutional Support Expense
1,600,000
Student Services Expense
150,000
Auxiliary Enterprise Expense
3,725,000
Revenues—Temporarily Restricted—Contributions
1,500,000
Revenues—Temporarily Restricted—Grants
970,000
Reclassifications From Temporarily Restricted Net Assets—Satisfaction of Program Restrictions
720,000
Reclassifications from Temporarily Restricted Net Assets—Satisfaction of Plant Acquisition Restrictions
1,080,000
Net Assets—Temporarily Restricted
750,000
Revenues—Permanently Restricted—Contributions
2,540,000
Gains on Long-Term Investments
750,000
Net Assets—Permanently Restricted
3,290,000
Assume the January 1, 2015, net asset balances are as follows: $1,000,000 unrestricted net assets; $300,000 temporarily restricted net assets; and $1,760,000 permanently restricted net assets.
a.Prepare a Statement of Activities using the format presented in Illustration 10–2.
b.Prepare a Statement of Unrestricted Revenues, Expenses, and Other Changes in Unrestricted Net Assets together with a Statement of Changes in Net Assets.
