Recording and Categorizing transactions

TABLE 6.4 (CONTINUED)
January Transactions, Access to Learning, January 2010
Accounts Salaries Mortgage Deferred Mortgage
Payable Payable Payable Revenue Loan
$17,000 $3,000 $5,000
$25,000
Currently
Unrestricted
Total
Liabilities +
Net Assets
Temporarily Permanently Total
Restricted Restricted Assets
$20,000 $121,000 $251,800 =
+
$60,800
$251,800
(1,000)
50,000
R
20,000
1,000
(1,000)
(19,000) E
50,000
R
25.000
I
(500) E
10,000
$17,000
$2.000
$5,000 $10,000 $25,000 +
$141,300
$65,000
$386,300
$121,000 $386,300 =
January Transactions, Access to Learning, January 2010
=
Beginning
Market Accounts Pledges Prepaid
Balance 2010 Cash Securities Receivable Receivable Expenses Equipment Inventory Investments Building
Last Year’s $5,000 $3,000
$2,000 $12,000 S- $6,800 $2,000 $121,000 $100,000
Balance
2-Jan
(1,000)
Pald $1,000 in cash to pay down accounts payable.
5-Jan
50,000
Received $50,000 in revenue from a foundation.
6-Jan
(1,000)
1,000
Prepaid insurance policy for the year.
8-Jan
20,000
Received $20,000 grant not to be spent until the next fiscal year.
10-Jan
1,000
Charged $1,000 in supplies.
15-Jan (20,000)
Paid teachers $20,000 and included $1,000 in salaries payable.
20-Jan
2,000 (2,000)
Sold $2,000 in market securities for cash.
25-Jan
50,000
Awarded a $50,000 foundation grant, no check yet, but will come within the fiscal year.
26-Jan
25,000
Awarded a $25.000 foundation grant, but payment will not occur until next fiscal year.
28-Jan
2,000
(2.000)
Received $2,000 in cash from money owed in accounts receivable.
28-Jan
Spent $500 worth of supplies.
(500)
29-Jan
10,000
Received $10,000 for services to be rendered in the future.
30-Jan
10,000
(10,000)
Received first payment of $10,000 from $50,000 foundation grant.
Jan. Ending $77,000 $1,000 $65,000 $12,000 $1,000 $6,800 $2,500 $121,000 $100,000
Balance
R = Revenue/ E = Expense

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