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P12-8 (pg. 584) & EX13-1 (1,2,3,4,5,8,9,10 MC
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Check My Assignment!WEEK FIVE TEXT BOOK PROBLEMS
P12-8 (pg. 584) & EX13-1 (1,2,3,4,5,8,9,10 MC
P. 12-8
The financial condition of a not-for-profit can be assessed, in part, with traditional financial ratios.
Review the financial statements of the March of Dimes for 2013 as presented in Table 12-8.
- Comment as best you can (even in the absence of guidelines as to what constitutes norms for comparable foundations) on the fiscal strength of the organization as of December 31, 2013, with respect to:
- Liquidity
- Burden of debt relative to assets
- Adequacy of available resources to meet expenditures
- Current fiscal performance as indicated by surpluses or deficits
- Riskiness of revenue stream
- Comparing 2013 versus 2012’s results, do you see any changes that could be detrimental to the foundation’s ability to achieve its mission?
EX. 13-1
Select the best answer.
- For purposes of external reporting, private colleges and universities
- For purposes of external reporting, a public college or university
- Public universities should report state appropriations as
- Coleman College, a not-for-profit institution, issued $20 million in revenue bonds. Per the terms of the bond indenture, the college must maintain a cash reserve of $800,000—which is equal to six months of interest. The cash that is set aside should be classified as
- For purposes of internal reporting Briggs College accounts for its bookstore as an auxiliary enterprise. The college should classify the store’s inventory as
8.
Which of the following expenses would least likely be a line item on the statement of activities of a not-for-profit college? - A public college should most likely report its athletic foundation as which of the following in its financial statements under GASB 39:
- If a university receives a grant to test a product under a federal contract, but the government retains the patent to the product, the grant should be classified as a(n):
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