Solved: Help Save is a private not for profit entity that

operates

Help & Save is a private not-for-profit entity that operates in Kansas. Swim For Safety is a
private not-for-profit entity that operates in Missouri. The leaders of these two organizations
have decided to combine forces on January 1, 2017, in order to have a bigger impact from their
work. They are currently discussing ways by which this combination can be created. Statements
of financial position for both charities at that date appear below.

The buildings and equipment reported by Help & Save have a fair value of $900,000. The
buildings and equipment reported by Swim For Safety have a fair value of $730,000.

a. Assume Help & Save pays $1 million in cash from its unrestricted net assets to gain complete
control over Swim For Safety. It is not assumed that Swim For Safety will be predominantly
supported by contributions and investment income in the future. What balances will appear on
the combined balance sheet immediately after control is gained?

b. Assume Help & Save pays $990,000 in cash from its unrestricted net assets to gain complete
control over Swim For Safety. It is assumed that Swim For Safety will be predominantly
supported by contributions and investment income in the future. What balances will appear on
the combined balance sheet immediately after control is gained?

c. Assume that these two organizations are combined into a new private not-for-profit entity to
be known as Help-Swim-Save. A new governing body will be formed to manage and operate
this new organization. What balances will appear on the combined balance sheet immediately
after control is gained?

Help Save is a private not for profit entity that operates

ANSWER
https://solvedquest.com/help-save-is-a-private-not-for-profit-entity-that-operates/

Reach out to freelance2040@yahoo.com for enquiry.

Powered by TCPDF (www.tcpdf.org)