The Following Information Was Taken from the Accounts and Records

question 47

Essay

The following information was taken from the accounts and records of the Helping Hands Foundation,a private,not-for-profit organization classified as a VHWO.All balances are as of June 30,2014,unless otherwise noted.
$\begin{array}{ll}\text { Unrestricted Support - Contributions } & \$ 2,000,000 \\\text { Unrestricted Support - Membership Dues } & 640,000 \\\text { Unrestricted Revenues - Investment Income } & 80,000 \\\text { Temporarily restricted gain on sale of investments } & 25,000 \\\text { Expenses - Program Services } & 1,860,000 \\\text { Expenses - Supporting Services } & 350,000 \\\text { Expenses - Supporting Services } & 550,000 \\\text { Temporarily Restricted Support - Contributions } & 640,000 \\\text { Temporarily Restricted Revenues - Investment Income } & 60,000 \\\text { Permanently Restricted Support - Contributions } & 100,000 \\\text { Unrestricted Net Assets, July 1, 2013 } & 450,000 \\\text { Temporarily Restricted Net Assets, July 1,2013 } & 2,100,000 \\\text { Permanently Restricted Net Assets, July 1,2013 } & 60,000\end{array}$ The unrestricted support from contributions was received in cash during the year.The expenses included $1,350,000 paid from temporarily-restricted cash donations.
Required:
Prepare Helping Hands' Statement of Activities for the fiscal year ended June 30,2014.

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Definitions:

Technologically Advanced

Characterized by the use of the latest technology, innovations, and systems to improve efficiency and capability.

Information System

A set of components that work together to manage and process data, transforming it into useful information for decision-making.

Collusion

A secret agreement or cooperation between two or more parties for a fraudulent, illegal, or deceitful purpose, often in business or trade practices.

Internal Control System

An internal control system encompasses the rules, procedures, and measures implemented by an organization to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.