An Adjusted Trial Balance Is Provided Below for the Dade

question 2

Essay

An adjusted trial balance is provided below for the Dade County copy services department at June 30,2014.
Required:
1.Prepare a statement of revenues,expenses and changes in net position for the copy services department for the year ended June 30,2014.
2.Prepare a statement of net position for the copy services department at June 30,2014.Assume all assets are not externally or internally restricted.

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Definitions:

Duty of Loyalty

An obligation of individuals in fiduciary positions to act in the best interests of their company or clients.

Ethically Allowed

Actions or decisions that are permitted based on moral or ethical principles.

Unocal Rule

A legal standard from a Delaware Supreme Court case that gives boards of directors a framework for resisting takeover bids.

Business Judgment Rule

A legal principle that shields corporate directors and officers from liability for decisions made in good faith but that ultimately resulted in loss or damage.