Amerah alhajri
120016323
Assignment 4
Acc 321
Q1
A
The fundamental rule about
donated art works is that must be
recognized as revenue and capital . however not for profit entities have the
right not recognize revenue , provided the donated items add to collections
and meet all of conditions :
1.They are held for open display, instruction or research in
encouragement of open administration;
2.They are secured, tended to, and saved; and
3.They are liable to an authoritative approach that requires
continues from offers of accumulation things to be utilized to get different
things for the gathering. On the off chance that Craftsmanship on Wheels picks
not to perceive incomes or additions, and it gets a work that it expects to
offer to defray working costs, at that point it must perceive incomes or picks
up on receipt of the work.
B
On the off chance that Craftsmanship on Wheels underwrites its fine
arts, it has another choice in regards to deterioration. The fundamental decide
is that Craftsmanship on Wheels require not devalue gave their administration
potential is with the end goal that they have phenomenally long lives.
Craftsmanship on Wheels must have certain proof that it has both the mechanical
and money related ability to save the workmanship.
Q 2
Operating revenues
2012
Net patient services revenue (6,500,000 – 950,000)
Charity care less 1,600,000 contractual adjustment )
3,950,000
Premium revenue
2,500,000
Total 6,450,000
Operating expenses
Salary and wages 4,500,000
Supplies 365,000
Other operating expenses 275,000
Provision for bad debit
250,000
Deprecations
475,000
Total 5,865,000
Operating gain
585,000
Investment income 100,000
Excess of
revenues over expenses
685,000
Change in net unrealized gain and losses on investment
25,000
Net assets related from restrictions for capital expenditures
375,000
Increase in unrestrictions net
assets 1,085,000
Q 3
Budgetary
Other appropriation realized 10,000,000
Un Appropriation authority
10,000,000
Property
Fund balance with treasury 10,000,000
Unexpended
apporopriation –
10,000,000
Appropriation
received
b. Budgetary
Unapportioned authority 400,000
Apportionments 400,000
c. Budgetary
Apportionments 400,000
Allotments – realized
resources 400,000
d. Budgetary
Allotments – realized resources 250,000
Undelivered orders –
obligations, unpaid 250,000
e. Budgetary
Undelivered orders – obligations, unpaid 250,000
Allotments – realized resources 24,000
Delivered orders –
obligations, unpaid 274,000
Proprietary
Buildings 274,000
Accounts payable 274,000
Unexpended appropriations – used 274,000
Expended appropriations 274,000
f. Proprietary
Accounts Payable 274,000
Disbursements in transit 274,000
g. Budgetary
Delivered orders – obligations,
unpaid 274,000
Delivered orders – obligations, paid 274,000
Proprietary
Disbursements in transit 274,000
Fund balance with Treasury 274.000
h. Proprietary
Program costs – depreciation 15,200
Accumulated depreciation 15,200
