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  3. a nonprofit organization has the following transac

A nonprofit organization has the following transactions:Contributions received: $200,000Program expenses: $150,000Administrative expenses: $30,000Fundraising expenses: $20,000Requirements:(a)...

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Accounting

A nonprofit organization has the following transactions:

  • Contributions received: $200,000
  • Program expenses: $150,000
  • Administrative expenses: $30,000
  • Fundraising expenses: $20,000
Requirements:(a) Prepare the statement of activities. (b) Calculate the program expense ratio. (c) Determine the fundraising efficiency ratio. (d) Discuss the importance of financial statements for nonprofit organizations.

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