During 2017, the Garfield Humane Society, a voluntary health and welfare entity, received cash donations of $892,000 and membership dues of $62,000. A member of the Humane Society donated services valued at $8,000 that would otherwise have been performed by a paid staff member. A pet food manufacturer donated dog food valued at $16,400. The Humane Society received a gift of $140,000, to be used in building a new animal shelter. Also during 2017, investments held by the Humane Society earned interest of $2,000.Required:Prepare a schedule showing the amount that the Garfield Humane Society should have recorded for contributions from public support for 2017.
What will be an ideal response?
| Garfield Humane Society | ||
| Schedule of Public Support | ||
| For the Year Ended December 31, 2017 | ||
| Public support: | ||
| Unrestricted donations, cash | $ | 892,000 |
| Donated services, unrestricted | 8,000 | |
| Donated materials, unrestricted | 16,400 | |
| Gift for new animal shelter, temporarily restricted | 140,000 | |
| $ | 1,056,400 | |
| Note: Interest earned on investments is not public support. | ||
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