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Homework Assignment #8 Child's Play, Part 1 1. Child's Play is a not-for-profit organization that...

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Homework Assignment #8 Child's Play, Part 1 1. Child's Play is a not-for-profit organization that works to introduce children to theater and the arts. At the end of FY 2014, which ended June 30, 2014, Child's Play had the following account balances (in alphabetical order): Accounts Payable Cash Equipment, net Grants Receivable, net Inventory Net Assets Notes Payable Pledges Receivable, net Prepaid Rent Wages Payable 6,000 310,000 76,000 4,000 335,550 65,000 22,000 12,800 18,250 Prepare a transactions worksheet, balance sheet, and activity statement for FY 2015 based on the following information. (Don't forget to link your spreadsheets, as you did last assignment!) Child's Play experienced the following financial events during FY 2015: On July 1, 2014, Child's Play paid $225,000 cash for new sound and lighting equipment for its children's theater. The equipment is expected to last 8 years and have a salvage value of $30,000. Equipment purchased in prior fiscal years depreciated by $12,000 in FY 2015. a)

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