Question
Individual Assignment: Accounting Short-Answer Questions
· Resource:Financial Management for Human Service Administrators
· Write 200- to 300-word responses to the following questions:
Please list each question and your response
o What are the major accounting differences between nonprofit and for-profit organizations?
o Why are audits becoming increasingly important in the nonprofit sector? Cite at least three reasons.
Finally, complete exercise 4.3 (ONLY)in Ch. 4 ofFinancial Management for Human Service Administrators.Note: This is a modified assignment from what is listed on the materials tab of the student web site.As I mentioned above, please take advantage of using this templatebefore you get frustratedwith this assignment. It is hard, andI am not looking for perfectionwith the numbers, but instead a good faith effort.
(The question is: Prepare a trial balance sheet for the Portland After School Program for the second six months of operation following the format shown in this chapter.)
(Also remember to attach the certificate or originality as a separate document when submitting this assignment)
Trial Balance
June 30, 20XX
Debits
Credits
Cash
Arts and crafts supplies
Accounts receivable
Revenue
Investments
Accounts payable
Expenses