TEST
UNDERSTANDING, INC.
BALANCE SHEET Octber 1, 1970--September 30, 1971
ASSETS:
Cash on Hand 492.28
Petty Cash Advances 70.00
TOTAL ASSETS 562.28
LIABILITIES:
Donations 2284.45
Less:
Net Loss 1644.55 639.90
1970 Deficit 77.62
TOTAL LIABILITIES 528.28
At the suggestion of our Accountant Director, Mr. E. T.
O'Connor, the financial reports of Understanding, Inc. have been separated into
two accounts, ie., Understanding, Inc. and the International Cultural Center of
Understanding. Thus, a change in the format of these reports over those of 1969-70.
TEST
UNDERSTANDING, INC. -- THE INTERNATIONAL CULTURAL CENTER
OF UNDERSTANDING
BALANCE SHEET October 1, 1970---September 30, 1971
ASSETS:
Cash on Hand 112.09
Fixed Assets: (Furn/Fix )
1970 1061.45
1971 801.66
1863.11
Less:
10% Depreciation 186.31 1676.80
Total Assets 1788.89
LIABILITIES:
Donations:
1971 Furn/Fix. 802.49
1971 Bldg. Fund 63.50 865.99
Surplus:
1970 Furn/Fix 1072.21
1970 Bldg. Fund 37.00 1109.21
Total Liabilities 1788.89
SUMMARY
Total Assets and Liabilities:
Understanding; Inc. 562.28
International Cultural Center of Understanding 1788.89
Total Not Worth 2351.17
