Record the journal entry that would be made by a nongovernmental, not-for-profit organization involved in medical research. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 1. The entity received $1,500 in cash contributions. Of that amount, $1,000 is to be used for medical research.2. The entity received pledges of $700,000 for its endowment fund. All pledges will be collected next year.3. The entity received donated services of $1,200 from medical researchers who helped with the entity's on-going drug development research. It also received $300 in donated services from students, who helped clean the research facilities.4. The entity paid medical research operating expenses of $5,000 that were related to restricted net
assets it had received in prior years.
What will be an ideal response?
| 1. | Cash | $ 1,500 | ? |
| ? | Contributions-Without Donor Restrictions | ? | $ 500 |
| ? | Contributions-With Donor Restrictions | ? | $ 1,000 |
| ? | ? | ? | ? |
| 2. | Pledges Receivable | $700,000 | ? |
| ? | Contributions-With Donor Restrictions | ? | $700,000 |
| ? | ? | ? | ? |
| 3. | Medical Research Program Expenses | $1,200 | ? |
| ? | Contributions-Without Donor Restrictions | ? | $1,200 |
| 4. | Medical Research Program Expenses | $ 5,000 | ? |
| ? | Cash | ? | $ 5,000 |
| ? | Net Assets Released-Satisfaction of Program | ? | ? |
| ? | Restrictions-With Donor Restrictions | $ 5,000 | ? |
| ? | Net Assets Released-Satisfaction of Program | ? | ? |
| ? | Restrictions-Without Donor Restrictions | ? | $ 5,000 |
You might also like to view...
__________is the condition that exists when one party has confidence in an exchange partner's reliability and integrity
Fill in the blanks with correct word.
Which of the following statements is true of strategic initiatives?
A. Random events and accidental happenstances reduce the possibility of strategic initiatives in organizations. B. When lower-level employees are less empowered, the possibility of strategic initiatives is higher. C. Strategic initiatives can be the result of a response to external trends or come from internal sources. D. Strategic initiatives result from top-down planning by executives and not through a bottom-up process.
Think of an intranet as a World Wide Web site that is used only within a company
Indicate whether the statement is true or false
Which of the following would not enhance the value of a target from the acquirer's perspective? a. Expected sales of the target have increased
b. The subsidiary's currency is expected to strengthen after the acquisition. c. The required rate of return from investing in the target has increased. d. All of the above would enhance the value of the target.