Prepare a statement of revenues and expenses

Assignment Help Financial Accounting

Reference no: EM131201205

Western State University had the following account balances for the year ended and as of June 30, 2012. Debits are not distinguished from credits, so assume all accounts have a "normal" balance.

Student tuition and fee revenue	$ 9,045,000
Scholarship tuition and fee contra revenue	920,000
Scholarships and fellowships expense	988,000
State appropriation for operations	10,000,000
Auxiliary enterprise revenue	9,321,000
Salaries-faculty	8,312,000
Capital appropriations	2,100,000
Depreciation expense	3,276,000
Salaries-exempt staff	5,432,000
Capital grants and gifts	1,110,000
Benefits	3,582,000
Federal grants and contracts revenue	1,221,000
Nonexempt wages	4,729,000
State and local grants and contracts revenue	898,000
Gifts	1,345,000
Additions to permanent endowments	900,000
Investment income	873,000
Other operating expenses	2,982,000
Interest on capital-related debt	1,984,000
Net assets, beginning of year	4,680,000

Required:

Prepare, in good form, a Statement of Revenues, Expenses, and Changes in Net Assets for Western State University for the year ended June 30, 2012.

Reference no: EM131201205

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