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.

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