Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 05 Aug 2017 My Price 13.00

Interlochen Center

Use the attached Interlochen Center for the Arts audited financial statement to answer the following questions.

1. How much did the Investment account decrease from 5/31/08 to 5/31/09?

2. Did the organization spend the entire amount that the Investment account decreased? Explain your answer.

3. Why would Land, buildings, and equipment, net increase from 5/31/08 to 5/31/09?

4. Why would Accounts payable-Construction in progress be $0 at 5/31/09?

5. Why are Tuition deposits reported on the Statement of Financial Position?

6. What is the significant cause for Total net assets decreasing from 5/31/08 to 5/31/09?

7. On the Statement of Activities and Change in Net Assets what are Assets released from restrictions-Operating item-financial aid?

8. Why would Total revenues and other additions decrease 60% from the prior year?

9. Compare three expenses from 5/31/08 to 5/31/09 and explain possible reasons for the differences.

10. How does the Depreciation expense affect the Statement of Financial Position?

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Maurice Tutor
(5)
Status NEW Posted 05 Aug 2017 04:08 PM My Price 13.00

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