Birdlovers, a nongovernmental not-for-profit entity, incurred $5,000 inmanagement and general expenses during the year. In Birdlovers’ statement ofactivities for the year ended December 31, the $5,000 should be reported as

John’s Not For Profit for disabled children are promised pledges (without restrictions that would equal $800. In the past they have only received 80% of the pledges promised.  How much contribution revenue should be reported with donor restrictions?

Samira’s restaurant signed a one-year lease on a warehouse for $5,000 a month. The landlord requires that Samira’s pay the annual amount of $60,000 at the beginning of the year. What would be the correct entry at the inception of the lease?

Which of the following formulations of the accounting equation is incorrect?

Golden Company had the following accounts and balances at the end of the year. What are total assets at the end of the year? Cash $75,000 Accounts Payable $14,000 Common Stock $21,000 Cost of Goods Sold $95,000 Dividends Declared and Paid $12,000 Buildings $12,000 Accounts Receivable $55,000 Inventory $42,000 Long-term Notes Payable $33,000 Revenues $130,000 Salaries Payable $28,000

A labor union had the following receipts and expenses for the currentyear ended December 31:  Receipt Descriptions: Amounts    Per capita dues  680,000    Initiation fees    90,000  Gift restricted by donor for loan purposes for 10 years  30,000  Gift restricted by donor for loan purposes in perpetuity    25,000   Expense Descriptions: Amount Labor negotiations  500,000 Fundraising                                                                                     100,000 Membership development 50,000 Administrative and general  200,000  Management sales of organizational supplies   60,000 Additional information: The union’s constitution provides that 10% of the per capitadues are designated for the Strike Insurance Fund to be distributed for strike reliefat the discretion of the union’s executive board. In the statement of activities for the year ended December 31, what amountshould be reported as donor-restricted support?

What is the first step of creating a Statement of Activities?

The town established a Central printing fund for the purpose of printing items for the entire government.  The General Fund made an initial capital contribution of $120,000 to the fund.  What account(s) should you DEBIT in the General Fund?

The following expenditures were made by Green Services, a society for the protection of the environment:Printing of the annual report                                                    $12,000Unsolicited merchandise sent to encourage contributions       25,000Cost of an audit performed by a CPA firm                                  3,000 What amount should be classified as fundraising costs in the society’s statement of activities?

When an Internal Service Fund sends a bill to the General Fund, which account should the Internal Service Fund debit?