96%(186)178 out of 186 people found this document helpful
This preview shows page 2 - 4 out of 4 pages.
furniture has an estimated useful life Equipment and furniture21, 600Cash12,000Contributions- unrestricted 9,600
Chapter 13: Accounting for Not-For-Profit Organizations *Entries*of 10 years. Furniture and equipmentare considered unrestricted net assets by INVOLVE.6. Telephone expense for the year was $5,200, printing and postage expense was $12,000 for the year, utilities for the year were $8,300, andsupplies expense was $4,300 for the year. At year-end, an immaterial amount of supplies remained on hand and the balance in accounts payable was $3,600.Telephone expense5200Printing and Postage expense 12,000Utilities expense 8,300Supplies expense 4,300Cash 26,000Accounts Payable 3,6007. Volunteers contributed $15,000 of time to help with answering the phones, mailing materials, and various other clerical activities.NO TRANS ACTION REQUIRED--No specialized skill is required8. It is estimated that 90 percent of the pledges made for the 2018 year will be collected. Depreciation expense is recorded for the full year on the assets recorded in item 5.Provision for uncollectable pledges 10,000Allowance for uncollectable pledges-Unrestricted10,000Depreciation Expense3,360Allowance for depreciation-Equipment and Furniture 3,3609. Salaries and wages were allocated to program services and support services in the following percentages:public health education, 35 percent; community service, 30 percent; management and general, 20 percent; and fund-raising, 15 percent. All other expenses were allocated in the following percentages: public health education,35 percent; community service, 20 percent; management and general, Public Health education program105,952Community Service Program 90,816