Donated Services. Indicate whether each of the following donated services situations would require a journal entry for
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Y N 1. Volunteers worked as sales assistants in a not-for-profit hospital snack shop.
Y N 2. An architect provided pro bono design services for the planned remodeling of a local museum.
Y N 3. A member of a church volunteered to repaint the church’s activities room to make it more attractive. Church leaders had not planned to repaint the room.
Y N 4. Several local persons used their cars to deliver meals to senior citizens for Meals on Wheels.
Y N 5. A psychiatrist volunteered several hours each week at a not-for-profit counseling center to assist persons with alcohol and drug addiction.
Y N 6. A local CPA performed the regular annual financial statement audit for a local youth development camp, an NPO.
Y N 7. A local church pastor donated several hours weekly to work with troubled youths in an after-school activities program run by a local NPO.
Y N 8. Helpful citizens served as ‘bell ringers” at the entrances of local businesses to collect money for the Salvation Army.
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Accounting for Governmental and Nonprofit Entities
ISBN: ?978-0073379609
15th Edition
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
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