Amerah alhajri120016323 Assignment 4Acc 321 Q1A The fundamental rule aboutdonated art works is that must berecognized as revenue and capital . however not for profit entities have theright not recognize revenue , provided the donated items add to collectionsand meet all of conditions :1.They are held for open display, instruction or research inencouragement of open administration; 2.
They are secured, tended to, and saved; and 3.They are liable to an authoritative approach that requirescontinues from offers of accumulation things to be utilized to get differentthings for the gathering. On the off chance that Craftsmanship on Wheels picksnot to perceive incomes or additions, and it gets a work that it expects tooffer to defray working costs, at that point it must perceive incomes or picksup on receipt of the work.B On the off chance that Craftsmanship on Wheels underwrites its finearts, it has another choice in regards to deterioration. The fundamental decideis that Craftsmanship on Wheels require not devalue gave their administrationpotential is with the end goal that they have phenomenally long lives.Craftsmanship on Wheels must have certain proof that it has both the mechanicaland money related ability to save the workmanship.
Q 2Operating revenues 2012 Net patient services revenue (6,500,000 – 950,000)Charity care less 1,600,000 contractual adjustment ) 3,950,000Premium revenue 2,500,000Total 6,450,000Operating expenses Salary and wages 4,500,000Supplies 365,000Other operating expenses 275,000Provision for bad debit 250,000Deprecations 475,000Total 5,865,000Operating gain 585,000 Investment income 100,000 Excess ofrevenues over expenses 685,000Change in net unrealized gain and losses on investment 25,000Net assets related from restrictions for capital expenditures 375,000Increase in unrestrictions netassets 1,085,000 Q 3 Budgetary Other appropriation realized 10,000,000 Un Appropriation authority 10,000,000PropertyFund balance with treasury 10,000,000 Unexpendedapporopriation – 10,000,000 Appropriationreceived b. Budgetary Unapportioned authority 400,000 Apportionments 400,000 c. Budgetary Apportionments 400,000 Allotments – realizedresources 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