A university maintains several plant funds as shown in the
A university maintains several plant funds as shown in the condensed balance sheets presented below. The fund structure and presentation are consistent with the AICPA college and university reporting model. Although this model has been superseded by FASB Statement No. 117, Financial Statements of Not-for-Profit Organizations, it is still used by many colleges and universities for internal purposes.

1. Recast the plant funds as they would appear in external reports in accord with Statement No. 117. That is, show how each of the reported amounts would be shown in a balance sheet with one column each for unrestricted and temporarily restricted amounts (there are no permanently restricted amounts). Allocate the cash ($9,000) and investments ($27,000) of the unexpended plant funds to the donor restricted category based on donor restricted fund balance as a proportion of total liabilities and fund balances (e.g., $4,000/$36,000 to temporarily restricted net assets).
2. Comment briefly on the advantages and disadvantages of eachpresentation.
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