Acc 410 chapter 12-13 homework

12-7

ledges receivable4mil

Revenue from contributions4mil

To record the receipt of a restricted contribution (temporarily restricted fund inasmuch as the gift's purpose is restricted)

b.

Program expenses4mil

Cash4mil

To record the expenses incurred in the legal assistance program (unrestricted fund-all expenses are recognized in an unrestricted fund)

c.

Cash100,000

Resources released from restriction4mil

To record the receipt of the cash previously pledged (unrestricted fund)

Resources released from restriction4mil

Pledges receivable4mil

To release the resources from restriction upon receipt of cash (temporarily restricted fund)

Possibility #3 - Contribution is conditional upon establishing a specific program.

a.

No entry would be...