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19-6 - E19-6 Entries for Voluntary Health and Welfare...

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E19-6 Entries for Voluntary Health and Welfare Organizations a. Journal entries. 1. Pledges Receivable 700,000 Allowance for Uncollectible Pledges 56,000 Contributions – Unrestricted 506,000 Contributions – Temporarily Restricted 138,000 2. Grants Receivable 150,000 Contributions – Temporarily Restricted 50,000 3. Cash – Unrestricted 520,000 Pledges Receivable 20,000 Allowance for Uncollectible Pledges 44,000 Pledges Receivable 30,000 Contributions – Unrestricted 14,000 $520,000 pledges collected 506,000 recorded as contributions $ 14,000 Adjustment to contributions 4. Land, Buildings, and Equipment 15,000 Cash – Unrestricted 15,000 5. Mortgage Payable 3,000 Cash – Unrestricted 3,000 6. Cash – Unrestricted 27,200 Cash – Temporarily Restricted 5,400 Investment Income – Unrestricted 27,200 Investment Income – Temporarily Restricted 5,400 Cash – Permanently Restricted 6,000 Endowment Investments 5,000 Gain on Sale of Investment – Permanently Restricted 1,000 7. Community Services Expense 12,000 Public Health Education Expense 7,000 Research Expense 10,000 Fund Raising Expense 15,000 General and Administrative Expense 9,000 Accumulated Depreciation 53,000
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E19-6 (continued) 8. Community Services Expense 250,600 Public Health Education Expense 100,000 Research Expense 81,000 Fund Raising Expense
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