Ashford 6: – Week 5 – Final Project

Final 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.