The Following Information Was Taken from the Accounts and Records

question 10

Essay

The following information was taken from the accounts and records of the Community Chest Foundation,a private,not-for-profit VHWO organization.All balances are as of December 31,2014,unless otherwise noted.
$\begin{array}{ll}\text { Unrestricted Support - Contributions }&\$6,500,000\\\text { Unrestricted Support - Membership Dues } & 700,000 \\\text { Unrestricted Revenues - Investment Income } & 63,000 \\\text { Temporarily restricted gain on sale of investments } & 20,000 \\\text { Expenses - Program Services } & 2,950,000 \\\text { Expenses - Supporting Services } & 670,000\\\text { Expenses - Supporting Services } & 350,000 \\\text { Temporarily Restricted Support - Contributions } & 560,000 \\\text { Temporarily Restricted Revenues - Investment Income } & 70,000 \\\text { Permanently Restricted Support - Contributions } & 80,000 \\\text { Unrestricted Net Assets, January 1, 2014 } & 500,000 \\\text { Temporarily Restricted Net Assets, January 1, 2014 } & 4,000,000 \\\text { Permanently Restricted Net Assets, January 1, 2014 } & 50,000\end{array}$ The unrestricted support from contributions was received in cash during the year.The expenses included $980,000 paid from temporarily-restricted cash donations.
Required:
Prepare Community Chest's Statement of Activities for the year ended December 31,2014.

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Definitions:

Bacon's Rebellion

A 1676 armed rebellion in the Virginia Colony, led by Nathaniel Bacon against the colonial government, reflecting early tensions between European settlers and Indigenous populations, and economic discontent.

Abolition of Slavery

The legal or formal ending of the practice of enslaving people, where individuals are owned and controlled by others.

Homogenization

The process of making things uniform or similar by blending diverse elements, often leading to a loss of cultural diversity.

Public Policy

Government actions in the form of laws, regulations, decisions, or actions designed to address public issues or achieve a public goal.