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Not-for-Profit

In:

Submitted By MissIna
Words 1171
Pages 5
Christina Selden
Week 8

12-7

1. This grant has the characteristics of an exchange transaction rather than a contribution. It is not donor restricted and therefore would be reported in an unrestricted fund.

2014 No entry

2015 Research expenses (direct) 4 Cash (or accounts payable) 4

Grants and contracts receivable 6 Revenue from sponsored research 6

Cash 6 Grants and contracts receivable 6 2. 2014 Pledges receivable (from NSA) 6 Revenues from contributions 6

2015 Research expenses (direct) 4 Cash (or accounts payable) 4

Due from restricted fund 6 Resources released from restrictions 6

Cash 6 Due from restricted fund 6

Cash 6 Pledges receivable (from NSA) 6

Resources released from restrictions 6 Cash 6

3. The grant revenue from the SGMA was recognized only as the research was carried out. It is an ordinary commercial cost plus contract. The restricted contribution from the NSA was recognized when the pledge was made.

4. CAA would not recognize revenue from NSA’s contribution until it had completed the research.

12-8

Cash 30,000 Revenues from contributions 30,000

Resources released from restriction 21,000 Cash 21,000

Equipment 21,000 Resources released from restriction 21,000

Depreciation expense 7,000 Accumulated depreciation 7,000

12-9

1. Northwest Ballet Association Statement of Activities For the Year Ended December 31, 2013 (in millions) Temporarily Unrestricted Restricted Revenues Contributions $6.00 Interest from investments $0.52 Total revenues 0.52 6.00 Expenses Interest 0.32 Excess

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